A fast-growing Lancashire company providing energy efficient and renewable heating systems, insulation and electric vehicle charging points has signalled its intention to give back to the county as it aims to double in size in the next year with support from Lancashire County Council.
Euro Energy Group, based in Accrington, grew from £450,000 turnover to £1.2m between 2019 and 2021. It is now hoping to grow to £3m turnover in the next year as part of its strategy to reach £19m in three years.
This will include increasing its staff base from about 25 employees to 50 over the coming years.
The company, which is led by brothers Immy Valentino and Zak Khan, has received support from Two Zero, Lancashire County Council’s scaleup support service.
It took part in the Scaleup Resurgence programme in 2020, which was designed to help Lancashire’s fast-growing companies recover quickly following Covid-19. The company is now taking part in a new Two Zero programme, the Scaleup Leaders Network, to help achieve its goals.
Zak Khan, managing director, Euro Energy Group, said: “We grew quite rapidly but we did not have the structures and processes in place for continued growth. Working with Two Zero helped us to do that, we now have a growth trajectory to take us to the next level.”
“The support has been invaluable and we’re looking forward to further support through the Scaleup Leaders Network.”
The company’s leadership team worked particularly closely with John Woodruffe, director at business growth consultancy Cube Thinking, which delivered the Scaleup Resurgence programme.
Zak said: “John is an expert on quality control and that allowed us to ensure we kept our service level high while preparing the business for continued growth. We worked with John on a one-to-one basis and also in a group with the management team.”
The business has signalled its intention to use its growth to give back to the local community in Lancashire.
“We don’t just want to grow for us,” added Zak. “We want to give back and as our profits grow, we want to give more to good causes. We are going through the process of starting a charity and we also want to grow to give back to our staff.”
Two Zero is a business support service for scaleup business leaders in Lancashire. Led by Lancashire County Council, its mission is to help Lancashire’s scaleup leaders learn, grow their business 20% and create jobs.
Two Zero’s Scaleup Leaders Network builds on the success of the Scaleup Resurgence programme and is currently open for applications.
It aims to develop the leadership mindset and scaleup strategies of those on the programme through one-to-one coaching, group masterclasses on key topics and by providing facilitated peer learning to help them build long-lasting networks of likeminded business leaders.
The programme will help participants develop robust strategies for accessing finance and environment, social and governance (ESG). They will also learn to develop and refine their overall scaleup business strategy and will receive support to improve business performance throughout the programme.
Euro Energy Group is also working with Boost; Lancashire’s Business Growth Hub. The company is receiving coaching through the Boost Bespoke programme to further develop its three-year strategy and ensure it achieves its ambitions.
County Councillor Shaun Turner, cabinet member for environment and climate change, Lancashire County Council, said: “The funding Lancashire County Council gives to support businesses in Lancashire is designed to benefit everyone.
“It’s great to see that the growth of Euro Energy Group’s business will help deliver a more sustainable, low carbon future for Lancashire but also that the company intends to give back to its local community as it grows. I’m looking forward to continuing to follow Zak and Immy’s great success story.”
To find out more about the Scaleup Leaders Network, visit the Two Zero website.
Would you like to see your business grow? So would we.
To speak to someone from the Growth Hub about business support, contact Boost online or call 0800 488 0057.