Roofing firm reaches new heights with investment boost
A County Durham roofing business is planning to expand operations and triple its turnover following a five figure investment from the North East Small Loan Fund.
Shildon based company Aspect Facades secured the £50k investment through regional fund management firm NEL Fund Managers.
Co-founded in 2017 by Daniel Parker and Andrew Howe, the company specialises in the design, supply, installation and maintenance of sustainable cladding and roofing systems, and expects to create several new jobs as part of its expansion.
The firm plans to use the investment to take on and deliver more of their own projects both locally and further afield, following involvement with Jarrow Hub in South Tyneside and Sunderland’s City Green apartment building.
Aspect Facades co-founder Daniel Parker commented: “Having access to sufficient working capital is essential for growing businesses within the construction industry, and the sector faces specific challenges when it comes to attracting outside investment.
“The NEL team looked at us as an individual business and saw the potential we have for considerable growth in the next few years, which we’re now in a great position to start realising.”
Supported by the European Regional Development Fund, the North East Small Loan Fund initiative aims to help the growth of local SMEs.
Mike Guellard, investment executive at NEL Fund Managers, added: “Aspect has secured a strong position in a lucrative niche market, and with high activity levels being sustained across the North East construction sector, it now has every chance to make even more progress.”
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