Mechplant investment 'an exciting milestone'

CONSTRUCTION kit hire specialist Mechplant has landed investment it will use to carry out ambitious growth plans.

- TOM KEIGHLEY Business writer [e-mail]

The South Shields-based firm has secured the six-figure sum from NPIF II - NEL Debt Finance, which is managed by NEL Fund Managers as part of the Northern Powerhouse Investment Fund II (NPIF II). It will be used to strengthen the Port of Tyne-based company’s capacity by investing in its equipment fleet. The move is intended to allow Mechplant to meet increasing demand from the construction and civil engineering sectors in the North East, where it operates Tyneside, Wearside, Durham and Teesside bases. Director Stephen Makinson said the investment will be an enabler of growth for the 23-year-old firm.