Bank finance allows heavy load haulage firm to buy new equipment

A HAULAGE business in Studley has increased its fleet with the support of a £1m funding facility from Lloyds Bank.

Allelys Heavy Haulage has purchased a specialist trailer to transport heavy, state-of-the-art gas turbines used in the power generation industry.
 
Established in 1959, Allelys offers a haulage and transport service to clients in the rail, electrical, petrochemical and fabrication industries, with the capability to transport abnormal loads across the UK and into Europe.
 
The business previously operated two high girder bridge trailers to transport the larger and heavier generator and transformer equipment that is now prominent in the power generation industry. To transport the larger gas turbines, the firm needed to invest in a third trailer.
 
Lloyds Bank Commercial Banking, and the bank’s Commercial Finance team, provided the hire purchase facility to enable the business to buy the trailer. The asset finance facility allowed the firm to purchase the equipment and pay down the full amount over an agreed period to ensure its cashflow remains fluid.
 
The investment arms the business, which has an annual turnover of £15m, with three high girder bridge trailers that can carry up to 500tonnes, increasing its transportation service capacity.

The delivery of the new equipment has also created five new jobs, taking the number of employees to 120. 
 
David Allely, director at the firm, said: “Technology in the power generation industry has continued to evolve as businesses look to ensure greater efficiency in their operations, and we needed to adapt to these changes to maintain our market leading position.
 
“The support from Lloyds Bank has enabled us to expand our fleet and our capabilities, helping us to grow our business further whilst also creating new local job opportunities.”
 
Mark Lodge, relationship director at Lloyds Bank Commercial Banking, said: “Businesses often don’t have the capability to transport oversize machinery, and this is where Allelys Heavy Haulage steps in.

“This investment also provides a boost to the local economy, with new jobs created, and we look forward to working with the business moving forward to activate its growth strategy.”