Haulage firm expands fleet after £3m hire purchase facility
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A Bolton haulage firm has expanded its fleet following a £3m support package from Lloyds Bank.
A&F Haulage is a key player in asphalt and aggregate materials and has used the hire purchase facility to buy 22 new 8×4 tipper trucks, each fitted with the latest safety systems, including 360-degree cameras and pedestrian and cyclist warning systems.
The new vehicles significantly increase the firm’s capabilities to transport large quantities of aggregate and asphalt on behalf of its customer base, which includes some of the world’s leading building material firms.
The investment means A&F Haulage now has a fleet of 115 vehicles, comprising 16 tonne trucks through to 44 tonne tippers.
The business has seen a significant increase in demand for its services in recent months, following a steep rebound in construction projects that were previously delayed by the pandemic.
Founded in 1993 by Ali Majeed, A&F Haulage is a family-owned business. It now employs more than 125 people and is anticipating a significant increase to its annual turnover following the investment in its fleet.
The firm operates from a four-acre site on Salford Road in Bolton, a one-acre site in Deeside, as well as three depots in Liverpool, Leeds and Rotherham.
Its hubs are strategically located to provide prime access to major road networks.
Ali Majeed, founder and managing director, said: “The pandemic hit the construction sector hard, but the comeback has been just as aggressive, and we’ve seen consistently strong demand for our haulage services recently.
“As we continue to grow, it’s so important that we continue to upgrade and expand our fleet and this investment marks the latest phase in this commitment.
“Lloyds Bank has been by our side since 2017 and we’ve found their constant support invaluable. They have helped us to achieve our growth ambitions and we will continue to work closely with them going forward.”
Gregg Menzies, associate director, specialist client solutions at Lloyds Bank Commercial Banking, said: “UK construction output has roared back to life this year, meaning businesses like A&F Haulage, with its impressive customer base, are thriving. The new fleet of vehicles bring additional capacity to the firm at a time when they’re seeing strong demand for their carrier services.”
Matt Smith, relationship manager at Lloyds Bank Commercial Banking, said: “We’re pleased to support such a buoyant business as they take another important step in their ongoing growth journey.”