Member Article

Lloyds funding facilitates showroom opening for Gateshead heating and plumbing business

Gateshead-based Plumbing and Heating Supplies Ltd is growing its North East reach, thanks to a six figure funding package from Lloyds Bank Commercial Banking.

The heating and plumbing equipment wholesaler has used the capital facility to open a showroom, set to extend its product portfolio on the Team Valley Trading Estate.

Established in June last year by Aidan Forshaw and David Langston, the firm came into fruition when the pair spotted a gap in the market for a customer-service driven, local equipment supplier.

The company, now now employing 6 staff with a turnover of £1.5m, plans to open five branches across Durham, Sunderland and Newcastle over the next three years.

Aidan Forshaw, director at Plumbing and Heating Supplies Ltd said: “Since the business’ inception we’ve seen a strong growth in sales which will be accelerated following the opening of the bathroom showroom.

“Lloyds Bank Commercial Banking has been invaluable in helping grow the business, and we’re confident that with its support we can achieve our aim of having six centres across the North East by 2019.”

Simon Marks, relationship manager at Lloyds Bank Commercial Banking, said: “Aidan and David clearly have ambitious plans for the future and we’re committed to helping them achieve this, with a tailored finance solution that fits the needs of the business.

“We’ve pledged to help small regional businesses like Plumbing and Heating Supplies Ltd fulfil their growth potential by increasing our net lending by £1 billion every year until 2017 as part of our SME charter.”

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