Leicester-based civil engineering consultancy, Nicholls Colton Group, has purchased new premises to support its long-term growth plans with the backing of a £370,000 loan from Lloyds Bank Commercial Banking.
Nicholls Colton Group provides material testing and advisory services to the construction industry across the UK and Ireland, and celebrates its fiftieth anniversary this year. To support its strategy for growth, the business is set to move into a 2360 sq. ft. office over two levels on Oak Spinney Park, Leicester.
The new premises will house the company’s testing departments, which undertake geotechnical, geo-environmental and infrastructure investigations as well as offering waste management appraisals and structural design for new build projects.
The business is now converting its existing site on Harding Street to expand lab space for the company’s analytical team. New procedures to evaluate waste, contaminated soils and water along with physical testing of construction materials will be implemented in the renovated laboratory.
The business currently employs 100 people and has an annual turnover of £5million. Following the purchase of the second office, it plans to create around 20 new jobs in 2016 across its five teams.
Ian Elliot, Managing Director at Nicholls Colton Group, said: “With the help of Lloyds Bank, we’ve been able to mark a significant company milestone of fifty years by relocating to a bigger and more modern office in Oak Spinney Park.
“We have tripled our headcount in 10 years and the larger space will enable us to create even more new jobs. We’re also able to implement new procedures in our specialist laboratory, generating long-term sustainable growth for the business.”
Ian Fisher, Relationship Director at Lloyds Bank Commercial Banking, said: “Nicholls Colton Group has shown consistent growth over the years, and as a result of this funding, the firm will be able to diversify and increase capacity to meet demand.
“We are dedicated to supporting the growth of small to medium-sized businesses like Nicholls Colton Group and as part of this commitment, we have pledged to grow our net lending to SMEs by at least £1billion every year until 2017.”