MECX Group strikes deal with Siemens to accelerate growth
Transport infrastructure specialist, MECX Group, has secured a £3m funding deal with Siemens Financial Services Ltd to support the company's growth aspirations.
The agreement replaces the business' previous arrangement with a national bank and will allow MECX Group to invest in staff recruitment and development, plant and equipment in order to enhance its overall service delivery capacity.
MECX Group has more than 220 employees and a turnover of £20m. The investment is expected to support the company drive its revenue above £30m in 2018 and to increase staff numbers to achieve that growth.
Chris Mariner, director at MECX Group, said: “We’re excited to have struck a deal that will help us achieve and exceed growth targets within our current business plan.
“It’s also a great pleasure to have partnered with such a well-known business as Siemens. The company has an excellent understanding of the rail space and infrastructure from its own background in the industry. They clearly understand the marketplace and the strategy behind the investments that we want to make in our business.”
John Kennedy, Head of Sales (London) Invoice Finance at Siemens Financial Services (SFS) commented: “Ambitious organisations like MECX Group often need flexible and competitive finance to help drive their growth plans. At SFS we evaluate each company’s individual circumstances and requirements to provide a tailored solution. We look forward to supporting MECX Group through the next exciting stages of its development.”