Haulage firm accelerates fleet expansion
A road transport and warehousing business has invested in a new fleet of vehicles after securing a hire purchase facility.
Tamworth-headquartered Lloyds Transport and Warehousing has used £526,000 from Lloyds Bank to buy 20 new trailers, each specifically designed for the business.
Established in 2005, Lloyds Transport and Warehousing’s customer base includes some of the UK’s biggest names in the food and drink, pet products and white goods industries.
The new trailers significantly increase the firm’s capabilities to transport large quantities of goods and the investment means that Lloyds Transport and Warehousing now operates a fleet of 120 vehicles.
The expanded fleet includes a wide range of sizes and specialisms, from 44 tonne articulated trucks through to smaller one tonne vans.
Lloyds Transport and Warehousing employs 116 people and the firm operates from an 85,000 sq ft warehouse on Relay Park in Tamworth.
Nicola Gallagher, finance director, Lloyds Transport and Warehousing, said: “The pandemic accelerated consumer demand in some of our core customer industries like food and drink and pet products, and this has had a positive knock-on to demand for our haulage services. As we continue to grow, it’s important that we continue to upgrade and expand our fleet and this investment marks the latest phase in this commitment.”
Lloyds Transport and Warehousing also benefited from support from Lloyds Bank during the coronavirus outbreak, receiving a £900,000 loan as part of the coronavirus business interruption loan scheme (CBILS).
Vijay Chouhan, relationship manager at Lloyds Bank Commercial Banking, said: “There has been a surge in demand for reliable UK-wide haulage services recently, meaning businesses like Lloyds Transport and Warehousing with its impressive customer base, are thriving. This expansion to its vehicle fleet gives the firm much-needed additional capacity to help manage this upshift as more businesses look for fast and efficient transportation services.”