A Chorley-based company which helps local authorities to test and maintain road surfaces has secured finance of £250,000 from Lancashire’s Rosebud Fund to support its continued growth.
Pavement Testing Services (PTS), which employs 65 people, plans to create at least 20 more jobs in Lancashire to coincide with the introduction in 2013 of new European standards on road construction products.
Established in 2002 by the current managing director Tony Sewell, PTS started out by providing specialist engineering services to help the Highways Agency and councils assess the condition of road networks and plan maintenance programmes.
In recent years it has developed the capacity to carry out a wide range of analyticaltests on tarmac and other road materials and is now well on its way to achieving recognition as a certification body in its own right.
In addition to its base on Chorley’s Cowling Business Park, PTS operates a laboratory in Adlington.
It also has a depot in Cramlington, Northumberland, and has recently acquired a further laboratory in Swansea.
Funding for Rosebud is provided by Lancashire County Developments Ltd – Lancashire County Council’s economic development company – as part of the council’s broad package of investment and advice.
The funding for Rosebud will assist the company with the costs associated with the recent acquisition and help fund the investment needed to confirm its status as a certification body.
Paul Taberner, Investment Director for Enterprise Ventures, which manages the Rosebud Fund on behalf of Lancashire County Council, said: “PTS has achieved impressive growth and the introduction of new European standards will open up further opportunities.
“The company has been investing heavily in its testing services, most recently with the acquisition of a second laboratory, using funding from its own resources.
“The Rosebud finance provides extra resource to enable PTS to accelerate its growth, building upon the excellent reputation it has deservedly earned over the last decade.”