SME funding roundup: Natwest, Santander Corporate & Commercial, Yorkshire Bank

AGRICULTURAL merchants Armstrong Richardson & Co have secured a seven-figure funding package with NatWest.

Established in 1925, Armstrong Richardson was originally a supplier of farm animal feeds and fertiliser but has expanded with wholesaling, transport and entertainments divisions.

In 2007, its head office was moved from the old Union Mill situated in the market town of Stokesley, North Yorkshire, to a new purpose built warehouse and offices on Stokesley Business Park.

After going on the acquisition trail, Millbry Hill, AR Wholesale, AR Agriculture, AR Fuels, C&C Horse Transport AR Entertainments and the recent acquisition of Equimix Feeds, Worcester, all now trade under the Armstrong Richardson & Co umbrella.

More than 180 people are employed by Armstrong Richardson & Co, which has a £36m turnover.

Mark Jones, joint managing director, said of their new bank: “As a business we have plans for an expansion in the future. NatWest made it clear to us they will support us in this and also offered financing that will support our long-term goals. We look forward to building on this new relationship.”

Keith Barnes, relationship director at NatWest, said; “I was delighted to support Armstrong Richardson & Co on this funding arrangement which will enable the business to move forward with its growth ambitions. I look forward to working with the business in the future.”

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RECRUITMENT firm Expion has added two members of staff to its Huddersfield head office, and plans to open two other offices after a boost from the bank.

Expion focuses on the manufacturing, engineering and commercial sectors, plans to grow following a six-figure funding deal with Santander Corporate & Commercial.

The firm, which has sites in Leeds and Silverstone, is using the funding support from Santander Corporate & Commercial to open up to two more offices in the UK, and growing staff at its established locations.
Nestle, Advanced Medical Solutions, Princes, Johnson & Johnson and Arla are key clients.
Expion’s three-year plan also includes increasing staff numbers to in excess of 50 and growing turnover above £10 million.

James Didgiunaitis, director at Expion, said: “The growth of Expion over the past five years has been exceptional, and it has been great to be part of such a successful, fast-growth business. We are always looking to grow Expion further and the support from Santander Corporate & Commercial will be fundamental to our future three-year growth strategy.”

Linda Greenwood, relationship director, Santander Corporate & Commercial, said: “We’re delighted to be able to support the management team at Expion as they capitalise on the achievements of the business and look to grow the firm’s network even further. They have developed a strong formula for success and, with a clear plan for continued growth, I’m sure they will take Expion to the next level.”

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ELECTRICAL contractor JLEC Electrical is receiving increased financial support from Yorkshire Bank.

JLEC has bases in Bradford, Leeds and Manchester, and is set for growth with their new working capital facilities, allowing the business to target larger contracts, deliver new services and take on staff in the next year.

The family-run firm was established by chief executive John Liput in 1978.

JLEC Electrical provides a range of electrical contract services,mainly commercial projects, across the UK by electricians based in West Yorkshire. It delivers lighting and CCTV systems, generators, fire alarms and portable appliance testing.

Yorkshire Bank has provided financial support to JLEC Electrical since the business was established more than 35 years ago.

Chief executive John Liput is joined in the business by son and managing director Glenn, and daughter and financial director Claire Ham.

The company employs 23 full-time staff and is aiming to create up to 15 new jobs this year as it bids for larger contracts.
Claire Ham said: “Over the course of our 35-year history we have built up a strong reputation for the quality and range of services we provide across the UK. This is a competitive market and as a family-run business we have the flexibility to pursue growth opportunities quickly which allow us to differentiate ourselves from our competitors.
“We have been customers of Yorkshire Bank since we were established more than 30 years ago. This new financial backing will provide us with the support to deliver larger, long-term contracts right across the UK.”

The new financial support was arranged by Alan Richardson, relationship manager at Yorkshire Bank’s Business and Private Banking Centre in Bradford.

Alan said: “Under John’s stewardship, JLEC Electrical is the perfect example of a strong, family-run business with ambitious growth plans, looking to develop new products with exceptional customer service.

“JLEC Electrical is one of our longest-serving customers and it has been a privilege to support the business’ growth.

“As we continue to see signs of economic growth in West Yorkshire, we are committed to working with strong, growing businesses such as JLEC Electrical.”