£16m turnover scaffolding firm rolls out expansion plans

Scunthorpe based Caspian Access and Plant Hire has successfully negotiated new funding to support their continuing expansion plans with the creation of a new 3-acre site.

Caspian Access and Plant Hire employs 50 people and turnover for the current year is expected to exceed £16m. Established in 1992, Caspian Access and Plant Hire is located on Midland Road, Scunthorpe, and has re-located across the road in the centre of a business park to support its expansion on with new premises on a 3-acre site. The company is a supplier of scaffolding and access equipment and also provides a range of courses on how to use the equipment safely.

Trading globally, their equipment is being used in major overseas developments as well as across the UK. It has secured funding from the Barclays Northern Powerhouse Fund has enabled the company to buy additional adjacent land to build another facility for the expanding business.

The £500m Northern Powerhouse Growth Fund was established to inject investment into businesses across the north of England and is intended for SMEs across the Northern Powerhouse region, including: established businesses with ambitious growth plans, start-ups with high growth potential, companies with early-stage equity funding and businesses focusing on innovation, R&D and technology.

Neil Garrison, Managing Director, Caspian Access and Plant Hire, said: “We’ve been growing organically since we started out in 1992 and we have worked alongside Barclays for many years and they recently funded an acquisition. This new funding deal has enabled us to secure more land so that we can build an additional facility for our rapid expansion plans. We’re thrilled that Barclays has been able to support us with very tailored funding solutions for our continued growth plans and to take the business to the next level of our trading ambitions.”

Chris Rushworth, Barclays Relationship Director put together the funding package for the deal and said: “Caspian Access and Plant Hire is a great example of a thriving business that is expanding for the future and contributing to the local economy. The new funding from our Northern Powerhouse fun will enable the company to increase stock and reach new markets and we’re delighted to be able to support Neil and his team with their growth ambitions.”

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