Electric firm creates jobs
A TEESSIDE firm has announced plans for a £1m expansion which will see it create 50 jobs.
Stockton’s AAG Swepco has received about £1m in private investment and funding to develop the company further following recent success.
Today the firm said it had “ambitious plans for growth” which includes doubling its current workforce of approximately 50, relocation to larger premises within Teesside, and an increased workload to meet its targets.
AAG Swepco purchased AAG Electrical in September this year.
In 2002, AAG Electrical began working as a sub-contractor for water industry clients.
Growing over the years, it developed into a national electrical contractor for some of the industry’s biggest names.
In addition, AAG Swepco provides renewable energy installations to a wide range of domestic and commercial clients including Stockton Council and Natwest.
By combining the two operations, the business can pool resources and expertise to drive forward.
Managing director Mohammed Akhmed said “The investment provides a platform for our company to develop and grow, including employing more local people.
“We are all extremely excited about our plans, and it can only show our commitment to our clients, staff and the area.”
North-east law firm Dickinson Dees played a major role in the successful merger of the two Stockton firms.
The merger of AAG Swepco and AAG Electrical, both based in Bishopton Lane, was brokered by a Dickinson Dees team, led by partner Nigel Williams.
Nigel Williams, based in Dickinson Dees’s Tees Valley office, said: “Clearly both these family-owned companies are thriving.
“There is an obvious synergy between the two companies and it was our brief to facilitate the merger and to raise additional capital to fund the expansion of the new company.”
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