Safety Technology plans global expansion with six figure loan from Finance Wales
A FIRM closely involved in a wind farm project in Glynneath is planning global expansion with the backing of a six-figure loan.
Safety Technology, which carried out statutory site inspection and examinations on the Maesgwyn Wind Farm, has received its latest round of investment from Finance Wales.
The safety specialist started life supplying utilities and telecoms sectors with safety equipment for work at heights.
The firm has been expanding its training operations over the past three years and has now set up a joint venture with a leading Spanish operation and maintenance company which is now part of WEIR group.
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Safety Technology managing director Bob Dickens said: "The UK is already the world leader in offshore renewable energy and with so many wind turbines currently under construction, the demand for safety training continues to grow.
"Diversifying into training has already given our business a significant boost and we're well-placed to continue expanding.
"Finance Wales's investment has provided us with the capital we need to set up a new offshore training facility in the North East close to a significant market for us.
"We can also establish operations in other strategic locations throughout Europe."
Investment executive Sam Macallister-Smith of Finance Wales worked on the investment with Safety Technology's management team, and said: "Safety Technology has successfully penetrated a new and growing market in the last four years. Thanks to the drive and commitment of its management team it is now a well-regarded global training provider.
"The Renewable energy sector is an exciting one and still has considerable potential for further growth.
"Safety Technology has an impressive understanding of its customers' needs and developing new services. Finance Wales's investment will enable Safety Technology to take advantage of this."
Accountancy firm Broomfield & Alexander, which has an office in Swansea, advised Safety Technology on the investment.
Seamus Gates said: "We were delighted to support Safety Technology in raising funds to enable them to capture growth opportunities in their specialist sector.
"Our experience working with Finance Wales smoothed the application process and enabled the directors to concentrate on running the business and building a strong base for their future development."