Barclays to fund growth plans for Burton upon Trent construction firm
Major expansion plans have been announced today by Burton upon Trent construction firm Ischebeck Titan, through a new funding package from Barclays.
The group has completed a re-banking and re-financing exercise which supports its growth and provides scale-up working capital finance.
Included in the finance package is a term loan used to purchase hire stock, in particular NOE panels, a high strength formwork panel system used for the casting of walls in a wide variety of applications.
Employing 140 staff in the UK and turnover reaching £28m last December, the company was founded in 1881 by its German parent company and manufacturer, Friedr Ischebeck Gmbh, its now in its 5th generation of the Ischebeck family.
Stuart Bamford, Managing Director of Ischebeck Titan in the UK, said: “With the banking facility secured, the platform has been laid to continue our growth journey, pursue new opportunities and provide a hugely exciting future for the business.
“Ischebeck Titan have established significant milestones which we continue to push towards over the coming years and we see Barclays playing a crucial part in this development.”
Andy Tidmarsh, Barclays Relationship Director, put together the funding package for the deal and said, “Stuart and the team are really ambitious and delivering strong growth – supporting the next stage of their journey, in particular with the new hire stock, will I’m sure be of great value to them”.