Building supplies firm looking to branch out
AN ambitious Liverpool building supplies business is looking to build a regional network of depots.
MBS Site Supplies, which is based on the Larch Lea Industrial Estate in the city and with a site in Warrington, has plans to open seven further branches in the next seven years and grow turnover from £2.5m now to £15m by 2021.
Founded just 18 months ago, the company has seen strong growth on the back of a number of major contract wins. It plans to open a third base in this region or in North Wales by mid 2016.
It is working on its growth plans with the Royal Bank of Scotland, which is providing vai RBS Invoice Finance a £250,000 factoring line to support its working capital needs.
MBS Site Supplies is responsible for supplying building supplies to the construction trade, mainly through their trade counters and alos online. Its range spans more than 2,000 products including tools, plasterboard, ladders, screws, nails and fixings.
RBS Invoice Finance has put a Factoring line in place to assist the payment gap from supplying goods to receiving payment which can often take up to 60 days. The working capital has also helped to secure five jobs in the last three months taking their total headcount across Liverpool and Warrington to 14.
Managing director Carl Oates, said: “I have operated in the industry through my marketing career for a number of years and by utilising the contacts I have made, this is helping MBS Site Supplies to become the number one choice for building supplies in the UK.
“We are already in discussion about upgrading our IT system to make it more user friendly for our staff and customers, which will cost in the region of £40,000. Significant investment will prevail as the company evolves and it is rewarding knowing we have a trusted banking partner on board.”
Ciaran Kilheeney, relationship manager at The Royal Bank of Scotland added: “Carl is a passionate individual who is certainly putting MBS Site Supplies on the UK map as a credible supplier to the construction trade. Carl has ambitious targets and we will endeavour to support his expansion plans and help him achieve greater things to come.”