Leeds fire protection firm invests in property and staff with £130k loan

Thermal Engineering Contracts, the Leeds-based fire protection firm, has bought its existing premises and boosted staff numbers with the support of a £130k loan from Lloyds Bank Commercial Banking.

Following on from the acquisition, Thermal Engineering has modernised the premises and improved the energy efficiency of the building, which allows for a reduction of its running costs.

The funding has also enabled Thermal Engineering to create a training centre for employees, expand its office space and develop a customer facing store.

Since the redevelopment, the firm has also recruited additional members of staff, including a business development manager, quantity surveyor and a project co-ordinator, bringing its total number of employees to 40.

Thermal Engineering Contracts Limited specialises in the installation of air, fire and sound protection seals for the construction industry.

Damien McKenna, director at Thermal Engineering Contracts, said: “Before making the changes, the building was in a poor condition. Securing the funding from Lloyds Bank has enabled us to purchase and transform the property into a pleasant working environment for employees, as well as provide us with the additional space and security to grow the company in the future.

“The addition of the training centre will also mean that we will be able to strengthen the skills of our staff internally, enabling us to provide customers with the highest performing solutions.”

Evan Griffin, relationship manager at Lloyds Bank Commercial Banking, added: “Investing in property is an important decision for any business to make, so having the right financial support is key.

“Here at Lloyds Bank, we’re committed to ensuring businesses like Thermal Engineering Contracts are offered guidance tailored to their business objectives and have access to the funding needed to support their ambitions. That’s why we’ve pledged to grow our lending to SMEs by £1 billion every year until 2017.”