Service Metals Continues To Build With Finance From RBS
10 July 2013 – Morley-based Service Metals Group (Service Metals), Europe’s leading supplier of road transport products and components, is to move its Gateshead operation into new premises after agreeing a £450,000 finance package with RBS Corporate & Institutional Banking (RBS CIB).
Service Metals was founded in 1976 by its current owners, Graham Wilson, John Winn and Jim Chrimes, operating from a small unit in Batley specialising in supplying aluminium for commercial vehicle bodybuilders. Now operating its own transport fleet from 11 depots throughout the UK and Ireland, the businesses offers its growing customer base an extensive stock range of aluminium, sheet, shate, extrusions, GRP panels, timber flooring and commercial body fittings.
Recent expansion by Service Metals has seen the business out-grow its premises in Gateshead. Having agreed a funding deal of £450,000 with the Leeds team at RBS CIB, Service Metals will relocate to larger premises in Gateshead with strong ambitions for further job creation.
Having been a customer of the bank for a number of years, the business was keen to remain in the Tyne and Wear region, and is confident that the new premises will give it an even better platform to continue to grow. The deal has been organised under the Funding for Lending Scheme and has been drawn from RBS’ targeted Manufacturing Fund – a pool of ring-fenced capital to help British manufacturers invest and grow.
John Winn, director, The Service Metals Group, said: “Moving premises is an exciting next step for the business. We’re delighted with the deal that RBS have provided and are confident it will propel us to even more success in the future.”
Andrew Croasdell, relationship director, Royal Bank of Scotland Corporate & Institutional Banking, said: “The Service Metals Group is an example of a great Yorkshire based business. One of the leading operators in its market across Europe, it has been a long-standing customer of ours and one we’re thrilled to not just have on the books, but be able to help with this latest funding in order for it to move premises, expand and grow. We’re proud to be helping our local economy with this deal, and excited about watching such a fantastic business continue to progress.”