SCOTTISH recycling giant The NWH Group has declared its ambition to double turnover to £100 million by 2025.
The bold forecast came from the Dalkeith-based company, which serves the industrial, commercial and construction sectors across Scotland and the north-east of England, as it secured a £19m funding deal to support its expansion plans.
More than £4m of the finance from Royal Bank of Scotland has been invested in new technology at the company’s Mayfield site, which will be used to recycle inert construction and demolition materials.
The new aggregate recycling plant, which will be fully operational by May, will expand the site’s processing capabilities to 250 tonnes per hour from 75 tonnes per hour, while reducing waste deposited to landfill, diverting a quarter of million tonnes per year.
The NWH Group currently employs 350 staff and said its expansion drive would “create a considerable number of new roles” in management and operational positions in the next three years.
It also said the funding would be used to accelerate new business and acquisition opportunities.
Mark Williams, chief executive of The NWH Group, said: “We are incredibly proud of our heritage at The NWH Group but the move towards creating cleaner and sustainable communities now tops our agenda. The introduction of the new wash plant technology is an important milestone in our journey as we look to significantly reduce the amount of waste that goes to landfill across the group.
“The funding from Royal Bank of Scotland has provided us with financial confidence to drive forward an ambitious and strategic business growth plan and enable us to provide our services in new regions, as well as create new jobs in Scotland and north-east England.”
David McIntosh, relationship director at Royal Bank of Scotland, said: “The NWH Group’s commitment to creating a circular economy is evident with the volume of measures taken firm-wide to ensure that its practices are as green as possible. The revolutionary technology invested in through our funding will bolster its position as a leader within the industry, and the bank is proud to have enabled this.
“Royal Bank of Scotland is consistently evolving its sustainability and ESG credentials to reduce impact on the planet and helping our customers realise the same vision is rewarding. We look forward to continuing our relationship with The NWH Group as it embarks on its expansion.”
The NWH Group has more than 3,500 customers, including NHS, CALA Homes and Scottish Water.