Helps ensure future
Brightwater secures finance to grow market share
Raising a glass: Rich Rankin, Steve Langmead and Roger Green
Water services provider Brightwater is to build its team and its offering after securing £350,000 in private external investment.
The equity-based finance, from undisclosed sources, will help the company grow its share of Scotland’s £350 million retail water marketplace.
Founded by serial entrepreneur Roger Green and digital marketing specialist Rich Rankin, Brightwater began trading in May 2016. Last year the company announced it had exceeded £3m in managed contracts.
Its chairman is former Capita chief executive Steve Langmead, who is also a non-executive director at IT firm Commsworld and a board member of the National Trust for Scotland and YoungScot.
Mr Rankin, managing director, said: “Securing this round of equity-backed private investment really underlines the strength of our business proposition and the high level of confidence from investors as we continue to build our customer base.
“These funds enable us to strengthen the balance sheet, develop our IT systems and bring in additional expertise into the business with plans to recruit operations as well as sales and marketing professionals. We will also invest to further enhance our customer support offering.”
Mr Langmead said: “This additional investment helps ensure a promising future for Brightwater. As we near our third full year of trading, we expect to announce further significant growth in contract revenues.”