Lift company set to go up in the world after new expansion
A WORCESTERSHIRE independent access company has completed its latest expansion with the opening of a sixth branch.
The opening of the outlet in Bridgend follows a £1.13m funding deal, which has seen the firm invest in new machinery.
Bromsgrove-based GTAccess currently has depots in Bromsgrove, Hereford, Gloucester, Shrewsbury and Stoke-on-Trent. It is a provider of elevated platforms, which it rents out to customers in the construction, manufacturing and automotive sectors.
The business wanted to expand its network into South Wales, and secured the funding from Lloyds Bank Commercial Banking.
The new outlet houses new equipment purchased with the help of the hire purchase facility. The machines include scissor and boom lifts, truck-mounted platforms and specialised tracked machines, with working heights from 5.8m through to 40m+.
As a result of the expansion, the business’ annual turnover is set to increase from £10m to around £12m in 2017, and 10 new jobs will be added to the 90-strong workforce including branch manager, regional sales representative, hire controller, driver and engineer roles.
Jonathan Till, managing director at GTAccess, said: “Extending our geographical reach throughout the UK is a priority as we look to grow the business’ order book. Now we have a base (with) more than 1,500 access machines to offer to our clients.”
Beyond its own depots, as a founder member of the Access Alliance, GTAccess also provides equipment to customers on a national basis.
“The funding from Lloyds Bank has allowed us to take these steps without impacting the daily cash flow of the business. We look forward to working with the bank as we continue to grow,” added Mr Till.
Ross Veale, relationship director at Lloyds Bank Commercial Banking, said: “GTAccess has clients operating across the country on infrastructure and development projects. Expanding its footprint means it will be able to reach existing customers quickly, while targeting new ones, too.
“The funding package provides the firm with support that doesn’t affect daily working capital, leaving it to focus on the steps it needs to take to achieve its goals.”
From left: Jonathan Till, managing director at GTAccess, Ross Veale, relationship director at Lloyds Bank Commercial Banking, and Lauro Rodi, regional manager of HP & Leasing in the Midlands at Lloyds Bank’s Commercial Finance.
