A Derbyshire engineering company is poised for expansion following a move to new purpose-built premises.
SGS Engineering Solutions has moved to a new site at West Side Park in Raynesway with six-figure backing from The Co-operative Bank.
The finance has been used to construct a new warehouse and offices for the company which makes tailgate, boot and bonnet struts for cars ranging from Volkswagen and Vauxhall to Mercedes and Maserati. It also supplies hydraulic jacks, presses and pumps.
The transaction was arranged by Relationship Manager Richard Altoft from The Co-operative Bank’s Derby Corporate Banking Centre based in Pride Park.
Andy Wyatt, Managing Director, at SGS Engineering Solutions said: “Our ongoing success meant we had outgrown our previous premises and we needed to look for a new site if the business could continue its growth.
“This move gives us the required room for expansion as well as improved facilities so that we can continue to deliver first class products to the automotive industry.
“The Co-operative Bank has shown throughout all its dealings with us that it is absolutely committed to our plans and future success.”
Richard Altoft from The Co-operative Bank added: “We’re delighted to have provided support to these ambitious plans and to help create a working environment that allows SGS to build on its success.
“This transaction strengthens our relationship with the company and illustrates how the Bank continues to support those SMEs that are so vital to helping the country’s economic recovery.”
The firm site employs 12 people. The new site was constructed by Derby-based developer, Kinsey Midlands Ltd.
For organisations with annual turnover of more than £1m, The Co-operative Bank offers a dedicated relationship team which is there to provide full support to the business.
Companies wishing to find out more about support from The Co-operative Bank should contact the Derby Corporate Banking Centre on 01332 369054 or firstname.lastname@example.org