The Merseyside Special Investment Fund (MSIF) has given £50,000 to Windtex Engineering Ltd, which was founded by Brad Hickman and Philip Turner in 2009 with a start-up loan from MSIF and sold to Hargreaves two years later.

They remained with the business and have now decided to take back control. Originally based in Kirkby, the company currently operates from temporary premises in Warrington.

Mr Hickman said: “Wind energy is one of the largest sources of renewable energy in the UK. The deal with Hargreaves didn’t go as planned; we decided to take back control of the business so that we can take advantage of opportunities to move into new markets.

“We have received fantastic support from local advisors. Despite our experience and track record, we were classed by the bank as a start-up, so they were unable to provide any support. We approached MSIF, and they were able to help us again.”

MSIF investment manager Chris Walters said: “Windtex has a proven track record, and we are really pleased to support them again. Renewable energy is a thriving sector, and there is the potential for the business to expand steadily over the next year. Brad and Phil are very experienced, and they have built up a strong reputation in the market-place.”