Clyde Bergemann Power Group, based in East Kilbride, has agreed a £72 million deal with Lloyds Banks to fund international growth.

The firm, owned by Monaco-based Scots millionaire entrepreneur Jim McColl, is looking to further its presence across Europe, in the Americas and into Asia and Africa.

CBPG, which manufactures equipment to maximise efficiency in power stations, is looking to grow and take advantage of new and emerging markets around the globe.

Both GBPG and Lloyds were pleased to continue their working relationship, with a deal to manage debt and provide working capital for new projects.

Graham Lees, finance director at CBPG, said: "Lloyds Bank has been a supportive backer of our business for many years and understands the global potential of our expertise in providing products and engineering solutions to the clean energy markets.

"This funding agreement will continue to underpin our growth over the coming years as we seek to expand our operations in our key growth markets."

Stephen McNeil, Relationship Director at Lloyds Bank Wholesale Banking & Markets' office in Glasgow, said: "Clyde Bergemann Power Group is a highly innovative group of companies with a wide range of market-leading expertise and technology across multiple sectors around the globe.

"This new agreement puts them in a strong position to continue funding their expansion."

The firm has several major international clients, including Doosan Babcock, Scottish Power, BP, Esso, and E.On and exports to more than 70 countries every year.

stewart.paterson@ eveningtimes.co.uk