Contract cleaners Maxim FM aim to create dozens of jobs after securing a £400,000 investment to drive growth plans.
Maxim Facilities Management Limited (Maxim FM) will use capital it is receiving from The Finance for Business North East Growth Fund to continue to expand and develop the services, a move which could boost turnover from £4m to £15m over the next five years.
The 400-strong Sunderland firm, which provides commercial contract cleaning and facilities management services to public and private sector clients throughout the UK, has won major UK-wide contracts this year with a number of blue chip customers, including Paragon UK, Gentoo & Quorn Foods.
The firm worked with regional fund management firm NEL Fund Managers, which administers the Growth Fund, to secure the investment, and was advised on the deal by Newcastle-based Ryecroft Glenton Corporate Finance, alongside Square One Law LLP.
Managing director Graham Conway, who set up the company in 2010, said: “This is an important investment which means we can continue to take the business forward and build on our success to date and bring new jobs to the region.
“We are delighted that we can get on with growing the business.”