Chancellor praises Chess as boss reveals £5m boost

TELECOMS group Chess has agreed a new £5m funding line to boost its growth and also expanded into a second site in Alderley Edge.

The funding, from Barclays, will support the privately-owned company’s acquisition drive and subsequent expansion which has seen it boost its office requirement.

The annexe to its Cheshire headquarters was recently opened by Tatton MP and Chancellor George Osbourne.

A flurry of acquisitions – the most recent in July – has helped the company grow turnover to £40m. After 37 jobs were added this year, staff numbers have risen to 180.

The new office, at Barrington House, Alderley Edge is opposite the company’s main base on Heyes Lane, Bridgwater House – which was also opened by George Osbourne, seven years ago when he was in opposition.

Chess founder and chief executive David Pollock said: “We’ve ambitious plans for future growth. George was pleased to hear we are taking advantage of the Government’s growth stimulation package ‘Funding for Lending’ to secure an additional £5m funding through Barclays which will further boost our acquisition strategy and see more employment created. This year alone we’ve created 37 new jobs.”

Chess is a leading consolidator of small to medium sized telecom resellers, having completed moe than 60 acquisitions in the last eight years.

George Osborne stated “Chess is one of Alderley Edge’s great success stories. I opened their existing office seven years ago and in that time they have more than doubled the number of people employed by them to become one of the most advanced companies in the country.

“Opening these new offices points to an even better future and the enthusiasm, energy and optimism of all the staff is infectious.”