A Cambridgeshire logistics company has acquired its existing site and an additional 3.5 acres of land to expand its operations with the support of a £2.5 million funding package from Lloyds Bank Commercial Banking. Masters Logistical had been paying rent on the site for the 15 years. It now plans to build a new warehouse and increase its workforce.
As a result of the expansion, the business also expects turnover to climb by 10 per cent to £6 million in the next year.
“Purchasing this land, and our existing premises, is a huge step forward for our business. We’re excited to push on with our development plans and get our new warehouse in place. Lloyds Bank has been by our side throughout this process. The funding allows us to build both our workforce and our customer base,” commented Paul Upton, managing director of Masters Logistical.