Roofing firm set to expand after funding boost
December 7, 2016 | By Teams Roofing |
A Washington-based roofing and cladding company has expanded its fleet of vehicles and broken ground on a warehouse extension after securing funding from Lloyds Bank Commercial Banking.
Teams Roofing’s investment is designed to support the on-going diversification of its commercial offering and is part of plans to explore new UK markets.
The move comes ahead of the second generation family business’ 40th year of trading.
Originally specialising in commercial and industrial roofing and cladding, the company doubled its turnover last.
Now, Teams Roofing has added 14 vehicles to its growing slating, tiling and leadwork operation.
It has also started construction on an extension to its current warehouse facilities, while plans are in place to extend the existing administrative and training operations at its Wylam Close headquarters.
Chris Willits, commercial director at Teams Roofing, said: “In spite of the difficult trading conditions our industry has seen over the past few years, our business has successfully negotiated these challenges to achieve year-on-year growth in a profitable environment.
“This has allowed us to invest in new staff, equipment, plant and facilities, which has exposed the business to new markets.
“We have seen a positive uplift in the amount of projects we are tendering for and, as a result, we have now exceeded our initial targets for secured work into Q2 of 2017 as we look to grow on a successful year.
“We are proud to have achieved the accolade of 40 years trading and look forward to continued success long into the future.”
Paul Watson, relationship manager at Lloyds Bank Commercial Banking, added: “Teams Roofing is a great example of a local, family business that is building on its success and reputation to make ambitious steps towards growth.
“Rapid expansion can be difficult but we’re confident the management team is set to navigate these challenges by ensuring their programme of improvements focuses on an exciting and lucrative new business area, while strengthening their essential infrastructure and existing offering with the right finance framework, which is why we have pledged to increase our lending to small and medium sized businesses by £1bn every year until 2017.”