AN investment totalling £12.8million has been unveiled for a Bolton-based utilities company by private financiers.

Bosses at equity firm WestBridge and OakNorth Bank are behind the cash injection for Aptus at Wingate.

The gas, electricity and water network supplier has only been around since 2010 but is said to have experienced strong growth, having been named in the London Stock Exchange's ‘1,000 Companies to Inspire Britain’ earlier this year.

Lisa Kerford, managing director, said of the new arrangements: "We are all delighted to finalise this deal and look forward to working with ....WestBridge to further grow the business and deliver the business plan."

She has told shareholders the WestBridge team "has the experience which will provide greater strength and depth to the company's board".

Jonathan Holden, one of the firm's founders along with Andrew Reay and Fred Story, added: "We have been working closely with WestBridge to finalise this transaction over the last few months.

"They have proven to be an ideal partner, taking time to fully understand the business and finding a way to structure a transaction to meet the objectives of all parties. The founders are very excited about the next stage of Aptus's growth and are looking forward to being part of an enhanced wider team."

Under the terms of the investment, the managing director and executive team will remain in place, with Martin Donnachie coming in as executive chairman. Mr Reay and Mr Holden, still significant shareholders, will remain as non-executive directors.

Mr Donnachie said: "I have admired Aptus, its reputation and success for many years. Aptus is a well-respected business with an impressive portfolio of client companies.

"It has collaborated with the industry it serves to create an efficient and streamlined process that saves developers time and money."

Earlier this year Aptus, which has a turnover of £42million, continued with growth plans by taking on six new apprentices. Their training was completed at the firm's construction training hub in Manchester.