Birmingham-based Hiatt Hardware UK Ltd, hardware manufacturer and distributor of DIY products in the UK and Europe, has purchased a new warehouse in Aston with a seven-figure funding package from HSBC.
Hiatt Hardware, which currently employs about 30 people, has used the funding to invest in a new 60,000 square foot warehouse, providing increased stock capacity to distribute a wider range of products to the trade market.
As a result of the new loan, Hiatt Hardware, which specialises in products such as door handles, cabinet furniture, hooks, hook rails and DIY hardware, shall be able to create 20 new jobs – including warehouse and distribution expanding the company’s workforce by about 66 per cent.
Ankesh Agrawal, Managing Director of Hiatt Hardware, said; “Our long-term growth strategy is driven by providing a greater range of products to our customers. This six-year growth plan has been supported by HSBC through this new tranche of funding, ensuring we can continue to offer a diverse range of hardware supplies. The new premises will help increase the brand image of Hiatt Hardware and expand our capabilities by focusing on strategic long term growth. Hiatt Hardware continues to be the preferred choice for customers and this investment will help achieve a higher level of customer confidence, encouraging new opportunities.
“Our existing site is nearing capacity, but the new site puts us in a strong position for growing and expanding our business. HSBC’s support has helped us to turn our growth plans into a realistic goal.”
Markus Keller, Area Director for Corporate Banking in Birmingham, said: “Hiatt Hardware is a great example of a successful and ambitious British business, doubling its turnover in the last four years. We are committed to helping British businesses realise their ambitions and Hiatt’s new warehouse will provide the additional space needed to grow and support its customers.”