Air compressor supplier acquires new headquarters

Hertfordshire-based Air Energy, one of the UK’s leading air compression specialists is setting its sights on a £20 million increase in turnover after relocating to a larger headquarters in Hertford. The company supplies and maintains air compressors and vacuum pumps for customers both in the UK and globally. Its cutting-edge technology takes in air and then stores it under pressure before releasing to deliver reliable power to a wide range of tools and machinery. They can be used for numerous purposes, especially in industries where reliability and safety are critical, from breathing apparatus for firefighters to nuclear powerplants.

The business, which employs 25 people, has now used a £1 million Commercial Mortgage and Invoice Finance facility provided by Lloyds to acquire a new 8,000ft² headquarters in Hertford to support its expansion plans. The new space is more than double the size of Air Energy’s previous headquarters, tripling its storage capacity, increasing its production capability and giving it the ability to take on more orders. Alongside this, the unit also provides space for the business to grow its team to 40 over the next couple of years, creating new skilled jobs for people in the region.

Sustainability
The move will play a key part in Air Energy’s long-term growth strategy. The business, which currently has a turnover of £5 million, is aiming for a £25 million turnover within the next six years. Sustainability is also central to the new facility. It has installed 40kW worth of solar panelling along the roof, fully powering its operations with surplus energy fed back into the grid. The business has also added four electric vehicle charging points as part of its commitment to reducing its carbon footprint.

Mark Asker, a director at Air Energy, said: “The quality and versatility of our air compression systems has allowed us to build up a strong customer base around the world, and that growth is only accelerating. We needed a larger space to meet increasing demand, expand our team and continue delivering the high standards our customers expect.

“Once we spotted the opportunity to acquire this unit, we knew it was one we could not afford to miss. It is fantastic to now own our own premises, and we are incredibly grateful to the support from the team at Lloyds for supporting us on this next stage of our journey.”

Nicos Charalambous, a relationship manager at Lloyds, said: “Mark and his team at Air Energy have put a lot of hard work into establishing themselves as one of the leading suppliers of air compression systems in the country. But rather than rest on their laurels, they have demonstrated a desire and ambition to really take their business to the next level, and it was a pleasure to be able to support them with this. We are here to support businesses with their growth plans, including providing transition finance as they invest in measures that reduce energy costs, such as solar panels or electric charging points.”