Finances fixed for a big push on major projects
FINANCE TO FLY: Paul Wilson, managing director of Allied Protek, flanked by Andrew Marsh, left, and Kevin Peart, of Barclays.
By Grimsby Telegraph | Posted: 17 Aug 2017
GROWING Grimsby-based business Allied Protek Engineering Solutions is looking to tender for larger contracts having secured new funding streams from Barclays to support their ongoing expansion plans.
Established in 2013, and headquartered at Armstrong Street, Grimsby, the company works in partnership with customers to support their installation and project work.
It project manages, designs, installs and manufactures plant and equipment, and other services include utilities design services and 3D scanning.
Operating across the UK and overseas, the new funding, from Barclays, will provide the flexibility for the business, as well as supporting the growth of sister company Humber Recruitment.
Paul Wilson, managing director, said: “We’ve recently seen a growth in orders both in the UK and overseas and the new funding stream will enable us to develop our manufacturing and testing capabilities. We have been working closely with customers to design and develop bespoke equipment solutions which will give us the product and manufacturing platform we are looking for.
“With Barclays’ help we have invested heavily in our manufacturing facilities and product development. Our sister company Humber Recruitment specialises in recruitment to the engineering and manufacturing sector and has also benefited from new funding.
“We’ve seen rapid growth here bringing a new dimension to our business enabling us provide additional space and consultants to meet demand.”
Allied Protek employs more than 100 staff across sites in Grimsby and Manchester, and turnover for the year is expected to top £11 million.
Kevin Peart, Barclays relationship director, said: “Since Allied Protek moved their banking to Barclays, we’ve been able to provide term debt and more recently working capital as well as supporting grant applications to enable their continued growth.
“The dedicated management team are very capable and focused on what they want to achieve and we’re delighted to once again partner with them for their future growth ambitions.”