£300k Yorkshire Bank package puts traffic firm on the road to growth
West Yorkshire’s 2 Works Traffic Management Ltd, has secured a £300,000 funding package from Yorkshire Bank, creating 20 new jobs.
The deal delivered by relationship manager Andrew Gleave, will enable the business to undertake bigger contracts, including a new contract with infrastructure giant Amey.
The five year contract with Amey, will help deliver a five-year framework to improve and maintain Liverpool’s highways
Turnover is also expected to increase from £3m in 2013 to £5m by the end of 2014.
2 Works operates from sites in Bolton, Lancashire, Brighouse in West Yorkshire, and Consett, County Durham.
Founded in 2008, 2 Works specialises in traffic control, providing customers, workers and the public with a safe zone, while maintaining an efficient flow of traffic.
The National Highways Sector Schemes approved company provides static road closures, both on rural roads and high speed carriage ways, including motorways, around the clock, 365 days a year. It has also launched a new division to install overhead power lines.
Customers include leading infrastructure business Hanson UK, and Morrison Utility Services, the UK’s leading utility service contractor.
The firm’s contract with Morrison Utility Services involves providing traffic management and installation of power lines across an area stretching from Yorkshire to the Scottish Borders.
When 2 Works became a customer of Yorkshire Bank in November 2010, it had 15 employees. It now employs about 40 staff and expects to recruit a further 20 workers within the next 12 months to help service its growing number of contracts. It also plans to expand its fleet of service vehicles from 30 to 50 vehicles.
Chris Hart, managing director of 2 Works Traffic Management Ltd, said: “Unlike other funding partners we have worked with, Yorkshire Bank takes a unique approach to each customer.
“In our case, the Bank looked at the value of our contracts and the quality of our blue chip customers, and provided the investment we required to continue to grow.
“The support we enjoy from Yorkshire Bank is first-class. We wouldn’t be in the position we are in, creating new jobs and winning major contracts, if it was not for its team’s expertise in growing businesses.”
Sean Williams, Head of Yorkshire Bank’s Business and Private Banking Centre in Bolton, said: “Our support for 2 Works reflects the experience, drive and expertise Chris Hart and his team brings to this business.
“Against an improving economic backdrop, we are focused on supporting the investment and growth ambitions of the business community in our heartlands. 2 Works represents all that is good about the entrepreneurial spirit which exists in the North West.”