East Yorkshire construction firm builds for expansion with new Barclays funding
North East Aggregates, the Brough-based construction business, has negotiated new banking facilities to support expansion plans with Barclays.
Established in 2017, North East Aggregates is based at Crosslands Lane, North Cave, Brough.
With a fleet of eight wheeler and articulated tippers carrying loads of approximately 20 and 30 tonnes, the business is a supplier of natural and recycled aggregates covering the Yorkshire and Humber region.
North East Aggregates delivers a wide range of aggregates and decorative products into the construction industry including private and residential, businesses and civil engineering contractors.
Tim Morris, managing director of North East Aggregates, said: “We’re delighted with Barclays support for the business and the working capital will enable us to not only quote for larger contracts but to build up our stock, enabling immediate delivery for our customers.
“Barclays has provided a full suite of banking products to cover all our financial needs and also introduced us to new partners to support staff expansion opportunities as we plan for the future.”
Turnover for the business is expected to grow following this recent transaction.
Kevin Peart, Barclays relationship director put together the funding package for the deal and commented: “The team at North East Aggregates really impressed me with their professionalism, vast background experience in the sector and most importantly, their burning desire to succeed.
“We were delighted to be able to provide working capital funding to support their growth ambitions and with Barclays backing the future looks bright for this well managed company.”