Supplier of equipment used to dismantle jumbo jets targets £12m turnover
A supplier of equipment used to demolish everything from retired jumbo jets to football stadiums is targeting record revenues and growth in new sectors.
Warrington-based ECY Haulmark plans to increase its annual turnover from £10m to £12m in the next two years with the help of a £1m refinancing deal, signed with funding provider Praetura Commercial Finance in 2017.
The company used the seven-figure boost to invest in more equipment and two new delivery trucks, enabling it to grow its customer base.
ECY Haulmark supplies the demolition, quarrying, plant hire and recycling industries in the UK and Ireland with attachments such as crusher buckets, hydraulic rock breakers, scrap shears, grabs, concrete pulverisers and magnets.
Its range is mainly used to demolish concrete buildings and structures but has also helped firms dismantle end-of-line jumbo jets, oil refineries, power stations and factories.
Recently, ECY Haulmark supplied attachments used to demolish Tottenham Hotspur’s White Hart Lane stadium.
The company was founded in 1961 as ECY Holdings by brothers Colin and Eric Yarwood and acquired Haulmark Equipment in 1995.
Ownership of the business has since passed to cousins Richard and Philip Yarwood, sons of Colin and Eric respectively.
Richard said: “The refinancing arrangement has provided us with welcome additional facilities to grow the business. We’ve invested in more attachments for the hire fleet to increase our stock offering by 25%, and we have also invested in two new 20-tonne delivery wagons.
“We are operating in a competitive market so we have to be able to provide what customers want, when they need it, while ensuring our products are of the highest quality.”
He added: “We see strong growth potential for the business over the coming years as we look to expand into other exciting and emerging markets.”
ECY Haulmark is now looking to expand its 37-strong workforce.
HURST, the accountancy firm with North West offices in Stockport and Manchester, is advising ECY Haulmark on its expansion strategy.
Tim Potter, chief exec at HURST, commented: “It’s great to see ECY Haulmark continuing to prosper.
“The company has taken some major steps forward in recent months and we look forward to working with the management team to fulfil their strategy.”