Construction and joinery company to create jobs with investment
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A Stoke-on-Trent-based joinery company has secured a £200,000 funding package to create jobs and expand its operations.
R&S Tonks secured the finance from The Midlands Engine Investment Fund (MEIF), provided by The FSE Group, Debt Finance Fund and backed by the Recovery Loan Scheme (RLS).
The funding will enable the business to retain its current 29 employees and over the next three years strengthen the workforce with the creation of five new positions.
R&S Tonks is a well-established building, joinery and fit out business specialising in the internal and external refurbishment of a diverse range of buildings.
The company works on a range of projects in both the commercial and private sectors. Previous clients and projects include universities, train companies, listed building renovations and large tourist attractions.
Robert Tonks, managing director of R&S Tonks, said: “Being a family run business, it was important for us to protect our team during lockdown and the funding has enabled us to achieve this. The pandemic did have some impact on the company by delaying contracts, but these are now being fulfilled. As new jobs are coming through, we have allocated some of the finance to expand the team to meet the current demand without having any detrimental effect on existing projects. Our thanks to the FSE Group for helping us to secure the funding.”
Kerry Haughton, investment manager at The FSE Group, which manages the MEIF Debt Finance Fund, added: “Robert’s business has been in Staffordshire for over 65 years and the company has a very good reputation with an experienced workforce. As well as existing and new projects, Robert has strong marketing campaigns in place to help him grow his client base and is currently looking to work with new sectors such as farm estates and city councils. These are exciting times for the business and we wish them well with the next stage of their journey.”