A half a million pound investment has paved the way for further expansion and potentially new jobs at a fast-growing Gloucestershire firm.

UK Power Solutions has signed a new 10-year lease at Bond's Mill, "consolidating commitment" to what is its national headquarters in Stonehouse.

The utility company is expanding into a newly-refurbished office and warehouse facility, taking its total occupied space to more than 14,000 sq ft at the business park owned by Robert Hitchins Ltd.

It was Robert Hitchins which arranged for the refurbishment.

James Trumper, finance director at UKPS, said: "This is a significant investment by UKPS and shows our commitment to remaining local in the place where the business first started.

"We recognise that our success is down to our committed staff who have helped build the business. It is important that we have the right facilities to attract and retain high-calibre people in order to maintain our growth.

"The investment in Bond's Mill means that, not only do we have improved office space, but we are able to enhance our technical training facilities to provide our employees with first-class training and development programmes."

Mr Trumper the company had grown by an estimated 20 per cent annually for the last five years and he saw no reason for the growth to slow just yet.

"When I first started three and a half years ago we were doing about £15 million," he said. Started in Stonehouse in 2007 UKPS now has a £35 million annual turnover and 200 staff in offices nationwide.

And there was more good news.

"There is no specific commitment to more jobs, but as the company grows it will be recruiting more people and now we have the space to do that."

UKPS is described as one of the UK's leading specialist suppliers of utility connections for the residential, industrial and commercial markets and has worked on a host of high-profile projects including Cribbs Causeway in Bristol, The Mall at Kingsbury and the redevelopment of Wembley Park in London.

Asset and Development Manager for Robert Hitchins, John Jones, said: "We're delighted that UKPS has expanded and committed to Bond's Mill for the long term."

Bond's Mill is home to 45 companies from start-ups to well-established names such as Green Gourmet, Omega Resource and BPE Solicitors.