Pictured:  Julian Jenkins (ITF Stockists), Mike Middleton (Lloyds TSB Commercial), Brian Pedley (ITF Stockists), Rosemary Slater (ITF Stockists), and Damian Glover (Lloyds TSB Commercial)

A Wednesbury-based industrial tube and fittings stockists has launched a new product range and also expanded an existing line of products after securing a six-figure trade finance loan from Lloyds TSB Commercial.

ITF Stockists is a distributor of steel products - which include tubes, sockets, barrel nipples and malleable iron fittings - and supplies customers operating primarily within the fire protection and mechanical services sectors.

Established in 2005 and operating from 50,000 sq ft premises on GWS Industrial Estate in Wednesbury, the company has an annual turnover of £5.5 million and employs 25 people. 

Next month, the firm will launch a new product range called 'pipeclamps', which are used to connect galvanised tubes across a multitude of applications, including handrails, guardrails, fencing, racking, exhibition stands, and play areas. Sales of the range will be led by Brian Pedley, who is renowned within the industry for his in depth knowledge of pipeclamps and its applications.

The business will also expand its existing range of dual certified tube products, to ensure that it offers its customers the full range backed up by the level of service that customers expect from ITF Stockists. 

In order to fund the expansion, the business switched banking providers to Lloyds TSB Commercial, which was able to provide the six-figure loan needed to invest in the new stock.

Rosemary Slater, director at ITF Stockists, said: 

"ITF Stockists has enjoyed solid growth and progression over the last few years, but we felt that now was the right time to really accelerate our product supply capabilities.

"The new 'pipeclamps' range is an exciting development for ITF Stockists and will enable us to give greater choice to our customers. Having invested into new stock for this initiative, we anticipate an increase in sales in this area of the business in the coming financial year. 

"Lloyds TSB Commercial was incredibly supportive of our ambitions, with a dedicated local team who were able to give us importance guidance, as well as providing the necessary funding for the initiative."

Mike Middleton, relationship director for Lloyds TSB Commercial, said: 

"ITF Stockists is an innovative and forward thinking business that has expanded and developed over the last few years to become increasingly well established as a stockist of tubes and fittings. 

"The recent investment into the expansion of the tubing range, as well as the new product launch, demonstrates how well the team has identified clear strategic objectives to maximise and secure future growth in the company.

"At Lloyds TSB Commercial, we strive to establish solid working relationships with our customers from the offset. We recognise how daunting it may seem to switch banking providers, but we endeavour to make the process as simple as possible with business owners such as ITF Stockists finding real benefits for their business by switching. The trade finance solution will hopefully help customers with their planned growth strategy over the next few years, which we fully support."