A COMMUNICATION and network infrastructure firm has switched banks as part of plans to diversify into new markets.
CDI, which is headquartered in the Kings Norton area of Birmingham, is aiming to build on its presence in the electronic security sector with backing from Yorkshire Bank, having previously banked with Lloyds TSB.
The company, which employs 97 people, was formed in 1987 since when it has been designing, project managing and installing network cabling, network hardware and telephony solutions.
It has now launched a new security division in a bid to boost its turnover of £6.5m of last year.
Managing director Chris Arkwell said: “We see the security arm of the business as an area where there is scope for lots of growth and bringing Yorkshire Bank on board will give us the ability to plan for future expansion of the group.
“Having taken the decision to switch banks, we had three or four offers on the table, but it became clear early on we liked Yorkshire Bank and they shared our vision for the future of the company and demonstrated support for the plans we have to expand.
“Traditional security installers are averse to using new technologies as they do not have the same in-house expertise in the IT network that we have so I’m confident CDI can build an extremely strong presence in this market.”
Vicky Blagriff, business banking partner at Yorkshire Bank in Birmingham, added: “The bank is keen to play our part in supporting local businesses achieve successful growth so we are delighted to be working with Chris and Alan Wilson at CDI Group and playing a major role in the future of the company.”
If you are interested in working in partnership with TheBusinessDesk.com on a round table event, call Lee-J Walker on 07807 083544 or email him at leej.walker@TheBusinessDesk.com
