Ashfield has netted £100,000 through a Finance Wales-led funding round and will now go after international expansion.
The business, which is based in Cardiff, provides advice and project management services involved with environmental liability management.
Its new line of equity capital will be put to use by going after new market opportunities in landfill mining and waste management.
As well as its headquarters in Cardiff, Ashfield also has locations in Belfast and Essex and has been in operation since 2006.
Andrew Pullman, managing director at Ashfield, comments, ‘Ashfield started on the cusp of a recession but we are now starting to see things moving and feel the time is right for further investment.
‘We have built strong foundations for the business through our team of former engineers, regulators, consultants and contractors who understand the complex issues around land, waste and water.’
With international expansion plans in place, Pullman believes that issues such as contaminated land, waste and new forms of energy offer new opportunities for Ashfield.
The investment comes two weeks after Finance Wales recommitted to its agreement with Fusion IP. The two investors will, having done so since 2007, continue to back university spin-outs in Wales through deals which have already seen Finance Wales invest £6 million into six Cardiff-based Fusion IP spin-outs.
More on recent Finance Wales deals:
- Investment backing for SCS Group
- Jamie Oliver fish supplier reels in equity investment from Finance Wales
- New team and funding for Viscose
Ashfield’s support has come from the Wales JEREMIE Fund, a £150 million pot which is backed by the European Regional Development Fund through the Welsh Government and the European Investment Bank.
Sam Macalister-Smith, investment executive at Finance Wales, says that Ashfield is now one of the UK’s most ‘highly regarded’ independent advisers in the space.
He adds, ‘Its ambitious management team is focussed on further growth and has identified a number of exciting new opportunities.’