Tenos secures funding from Allied Irish Bank (GB) to support growth

June 2021 – Leading fire engineering consultants Tenos are focused on growth after securing an undisclosed funding package from Allied Irish Bank (GB) in Manchester.

Established in 1997, Tenos operates from its head office in Manchester and has other locations in London and Bristol. The firm are experienced independent fire engineers with a proven track record in providing fire solutions for landmark buildings worldwide. In 2019 Tenos formed an Employee Ownership Trust which was also backed with funding from Allied Irish Bank (GB). This promoted the engagement of employees in the continued successful operation of the business.

This latest funding from the bank comes on the firm’s second year anniversary of becoming an Employee Ownership Trust and allows Tenos to exit the deferred debt facility that was created for this. This has been achieved two years earlier than planned and demonstrates the firm’s financial growth and continued success.

Paul Hoban, Director of Finance and Practice Management at Tenos said: “During the last 12 months Tenos has achieved all of its growth targets despite COVID-19 and is on track to improve on this in the coming year. As a business we were geared up to work remotely already with many of our team working flexibly prior to the pandemic so our ability to adapt to the changing working environment was relatively easy and has undoubtedly helped our continued progress. Our sector was also considered as key workers which enabled our flow of work to continue and helped us to continue essential site visits and support our existing customer relationships which have been built on our ability to deliver an efficient and high quality, specialist approach. 

We have worked with Simon King and the team at Allied Irish Bank (GB) for two years and are delighted to secure this new finance facility and continue our relationship for now and the foreseeable future. They really understand our business and have supported us throughout the pandemic, making this an easy process.”

Simon King, Senior Relationship Manager at Allied Irish Bank (GB) added: “Tenos has continued to go from strength to strength and we are happy to continue to support them in their next stage of funding and growth which has been impressive during what has been a challenging time for many businesses. We are delighted to continue to support Tenos during this exciting period of expansion.”