Pictured above: Steve Lee

An innovative rail company, which has one of its main offices located in Nottinghamshire, is further expanding its plant business after doubling its turnover in the last three years.

The Aspin Group plc which consists of Aspin Foundations Limited, Aspin Plant Limited and Aspin Consulting Limited celebrated its tenth anniversary in February. It was founded in 2000 by current owners Barry McMahon and Andy Hoffman.

The company, which has its Midlands operation in Nunn Brook Road, Huthwaite, operates primarily in the rail industry, offering a wide range of services including piling and foundation works for signalling, cabling, gantries and platforms on the nation's railways.

Now, Aspin Plant Limited is importing a further two new road rail vehicles from Italy thanks to financial backing from Yorkshire Bank's Financial Solutions Centre in Derby. Aspin has already increased its fleet of road rail vehicles significantly within the last year.

Steve Lee, the company's financial director, said 150 staff are employed by the group in Huthwaite, Preston and Hemel Hempstead.

"Initially we focussed on foundations and we have now diversified into more specific rail sectors with 70 per cent of our work centred around installing specialist foundations and superstructures for signalling and overhead line structures," he said.

"We have approval to hire plant to other operators after gaining a licence from Network Rail Infrastructure. We have our fleet of road rail vehicles (RRVs) that can operate on rail tracks. Recently we have purchased two more road rail vehicles to use on overhead line programmes on the rail network. 

"We are confident of reaching our turnover goals this year. We have grown from £5 million three years ago and our business plan is to get to £20 million in the next three years.

"We are delighted to have received the backing of Yorkshire Bank in our expansion programme." 

Dave Simpson, senior partner at Yorkshire Bank in Derby, said they were pleased to be working with the Aspin Group via banking facilities including invoice finance and asset finance.

"This has been a great example of teamwork," he said. "The company's management team has met our specialist advisers and we have worked together to transfer their banking services to Yorkshire Bank.

"It is a forward thinking company that is owned and managed by two entrepreneurs who are making their mark in the UK's rail industry and with their innovative approach, I am sure they will continue to reach their business goals."