Specialist transport firm set to create jobs after Midlands Engine Fund investment
Worksop-based DUKE Distribution, the provider of specialist transport and trackway installation services, has secured a debt finance funding package from the Midlands Engine Investment Fund II.
The investment, through the fund’s appointed fund manager for the East and South East Midlands, Maven Capital Partners, will support the company’s growth plans as the company seeks to capitalise on the expanding demand for trackway installations across the UK and Europe.
DUKE’s operational areas include specialist transport, haulage services and trackway installation with an extensive fleet of flatbeds, low loaders, curtain siders and bespoke trackway installation vehicles, alongside expertise in the transportation of abnormal loads.
The funding package through Midlands Engine Investment Fund II will enable DUKE Distribution to expand its fleet, invest in additional equipment, and increase its workforce to meet the growing demand for its services.
James Robinson, managing director at DUKE Distribution, said: “DUKE Distribution has grown significantly since its inception in 2020 and the market for our services remains strong, both in the UK and across Europe. The funding package provided by Maven, through the Midlands Engine Investment Fund II, will allow us to acquire more specialist vehicles and develop our workforce at the pace required to meet the demand.”
Richard Altoft, investment director at Maven, said: “DUKE Distribution is a strong player in the trackway installation and logistics market, with a solid customer base and a clear strategy for growth in the UK and Europe. This funding will enable the company to meet the rising demand for trackway installation where significant infrastructure and renewable energy projects are driving the need for specialist access solutions. We are pleased to support DUKE Distribution as it embarks on this exciting phase of expansion.”
David Tindall, at British Business Bank, said: “The Midlands Engine Investment Fund II supports small businesses with growth potential in the region, helping them access the right type of finance for their business. The funding will enable DUKE to grow and expand, creating a positive economic impact on the wider region through job creation and more.”
