Power quality engineering firm plans to grow through acquisitions and international deals

Enspec, a power quality engineering company based in St Helens, is forecasting revenues of £6m this year and £10m in 2025, as well as increasing its workforce.

The company is also thinking about foreign expansion, establishing cooperation with the USA.

Chief executive Mara Rastall and her husband, CTO Tim Rastall, acquired a 75% stake in the electrical and energy engineering company in a management buyout in February 2023.

They plan to expand through potential acquisitions over the next few years.

The pair’s ambitious growth plans come on the 10th anniversary of Tim joining the company as an intern in the summer of 2014.

Enspec, which employs 30 staff across offices in St Helens, Manchester and Washington in the north-east, expects to grow to 40-50 by the end of the year.

Tim said: “I have had the opportunity to watch Enspec really grow over the last 10 years.

“Having worked here for a decade and witnessing our growth since last year’s MBO feels like a fantastic achievement for the team.”

He added: “Our growth has been organic and we will continue to grow organically in the remainder of 2024. After that, we will more actively seek acquisitions to expand our value chain and accelerate time to market.

“This is a very exciting time for Enspec and it has given me a bit of reflection, given that it has been 10 years since I joined this amazing company as a summer intern.”

Enspec has a temporary office in Manchester and will open a new permanent base in the city centre later this year. The company also has a design and manufacturing facility near Newcastle.

The services provided by the company, founded in 1999, include energy systems research, power quality analysis, renewable energy consulting and facility maintenance.

Enspec also designs, manufactures and commissions bespoke products including harmonic filters, reactive power compensation, power factor correction and point-on-wave switching.

Customers include large energy producers such as large wind farms, solar farms and hydroelectric power plants, as well as major energy consumers including manufacturers and hospitals.

Tim said: “Following last year’s MBO, Enspec reorganised the business into separate units for manufacturing, consulting and on-site services. The result has been significant growth in our customer base.

“We are currently focused primarily on the UK market, but Enpec works with customers around the world. We are also in talks to expand into the US with a potential partner.

“Mara, the management team and our entire team are excited to see what Enspec can achieve for its growing customer base during what is sure to be the most important period of the energy transition.”