Lincoln-Based Haulage Firm Is On Track Thanks To Clydesdale Bank
A leading Lincoln-based haulage and logistics company is expanding after securing new funding from Clydesdale Bank.
Rase Distribution Ltd, which saw a 10% growth in turnover in the last two years, has added 12 new trailers to its fleet after receiving a £600,000 funding package from the Bank. The deal was arranged by business development manager David Burgess from the Business and Private Banking Centre in Lincoln.
The firm, which was founded in 1967 and is based at Wickenby Airfield in Langworth, is one of the UK’s leading independent logistics providers to the packaged hazardous goods sector and a range of other industries.
The £8.75m turnover business, a new customer to Clydesdale Bank, currently employs 105 staff and runs a fleet of 50 vehicles. Following a number of new client wins, it placed an order earlier this year for 12 trailers from Lawrence David of Peterborough, including two double-deck trailers, purchased as part of this deal, and put into service in July. These trailers are among the UK’s first double-deck trailers that comply with the most recent European construction standards – EN 12642 XL.
Geoff Hill, managing director at Rase Distribution Ltd, said: “The funding we received from Clydesdale Bank has enabled us to keep growing the business in a considered way. We are already targeting a turnover of £9.5m this year and are looking for opportunities to open new depots at locations near to main road infrastructure.”
More than half of the company’s clients work is in agriculture and related industries and Rase Distribution operates two depots in central Lincolnshire, both of which are COMAH (Control of Major Accidents Hazards) ‘Top Tier’ registered, which legally permits them to store crop protection products. In total it manages more than 35,000sq metres of high quality secure storage facilities.
The company continues to provide the highest standards of service for its clients, which has recently included a significant investment in an online IT system offering a ‘real-time’ and fully integrated inventory management system that keeps customers updated on the status of orders.
David Burgess, business development manager at the Clydesdale Bank’s Business and Private Banking Centre in Lincoln, added: “I’ve known Geoff Hill for a long time but this was actually the company’s first transaction with Clydesdale Bank. Geoff is forward-thinking and ambitious. He has big plans for Rase but he balances this with a sensible growth strategy.
“While recognising that there is the capacity for further expansion, it’s the company’s high level of customer service – primarily its attention to detail – that has enabled it to win major contracts from global chemical manufacturers, and Geoff won’t make any compromises when it comes to that.
“As the economic outlook continues to improve, Clydesdale Bank remains focused on supporting the growth ambitions of businesses in Lincoln.”