Building materials firm charts growth after £1m funding deal
A West Midlands building materials firm is charting growth after securing a new £1m funding deal.
Telling Architectural, which develops and distributes advanced building facades, has agreed a new finance facility with challenger bank Aldermore.
Established in 2002 and based in Four Ashes, near Wolverhampton, Telling Architectural serves clients in the UK and North America. The business has grown consistently since launch and in July 2016 moved into new premises to accommodate its growing staff and support its rising sales.
The company had a turnover of £5m in 2016 and forecasts this will double by 2018, with the new funding enabling it to meet its projected targets.
Mike Wood, managing director, Telling Architectural, said: “Our existing lender was not able to offer the financial support we needed to maintain our recent strong growth so we were introduced to Aldermore by one of our independent consultants. It was immediately clear that the bank would be the ideal partner.
“The team at Aldermore has demonstrated a strong desire to deliver a bespoke funding solution in a very short space of time. The specialist support has also supported our smooth transition to new premises.”
Karen Allen, Head of Specialist Finance at Aldermore, said: “Over the past 15 years Telling has built a strong reputation for delivering the highest quality products to clients in both the UK and North America. We’re thrilled to be able to provide the company with this new funding which will ensure it has the financial means to meet growing customer demand and achieve its forecasted growth.”
