Brick company builds on expansion plans with £400,000 cash injection
A manufacturer of architectural stone is set to double its capacity and boost turnover by 20% after acquiring premises with the help of a £400,000 funding package.
Shropshire Brick and Stone bought its 10,000 sq ft site in January which has enabled the firm to condense its overheads, as well as releasing the additional working capital needed to establish a second production line.
The firm will look to expand its client base across the UK and it will be boosting its workforce by 15% to help meet the upturn in demand.
Shropshire Brick and Stone was founded in 2012. The company produces handcrafted architectural and ornamental cast stone products and offers brick cutting and bonding services to housing developers and building merchants across the UK.
Chris Round, managing director at Shropshire Brick and Stone, said: “Purchasing the premises has given us the long-term security we need to implement our expansion plans.
“This includes boosting our production capabilities to better serve our clients, and in the short time we’ve owned the site we’ve bought new machinery and established an additional production line.
“Buying a property can be quite a challenging and complex process, but the support we’ve received from the Lloyds Bank team, led by Darren and Phil, has been outstanding. The relationship team took the time to get to know our business and our plans, which enabled them to provide a funding package that was exactly tailored to our needs.”
Phillip Rowley, relationship manager at Lloyds Bank Commercial Banking, said: “Shropshire Brick and Stone’s products are of exceptional quality, so it’s not surprising that demand has consistently risen over the past seven years.
“This is mainly due to the ambition of the management team who have had the foresight and dedication to push forward with expansion plans, even when the market has been challenging.
“For firms like Shropshire Brick and Stone to prosper, it’s vital that they have the correct funding in place, which is why we’ve pledged to lend up to £2.5bn to companies across the Midlands over the next 12 months.”
