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20 May 2012

SP Services Ltd emergency move to meet business growth

SP Services Ltd emergency move to meet business growth

SP Services (UK) Ltd based in Telford, is certainly a business in good health after acquiring a 32,000 square foot unit at Hortonwood Industrial Estate. The £2 million investment supported by Barclays will create 10 additional jobs and accommodate increased stock requirements as the business continues to expand into new markets.

 

 

Established in 1989 by Steve Bray a former St John Ambulance volunteer the business currently employs 33 staff with an annual turnover of £7 million. The business is one of the leading suppliers in the UK of medical, first aid, ambulance, paramedic and rescue equipment and has become one of the first businesses in Shropshire to benefit from the recently launched National Loan Guarantee Scheme.

Steve Bray, Company Director at SP Services (UK) Ltd said “The business has grown rapidly in recent years and the new premises will provide 5 times as much space as our existing unit. We have benefited from a diversified client base and supply medical equipment to everyone from Manchester United to the MOD. We have also recently won a lucrative contract to supply all the emergency medical equipment for this summer’s Olympics across 89 UK venues.  The timing of our investment could not have been better as we are receiving a £12,000 cash back payment from Barclays as our loan is eligible for the recently launched National Loan Guarantee Scheme, launched last week. We are planning to use this cash back to contribute to the start up and administration costs to establish a new office in Brisbane Australia as we wish to develop our international presence providing the one stop shop medical supply service which has worked so well in the UK.”

Lee Clarke, Barclays Relationship Director said “By giving our customers the full benefit of the NLGS on day one, they receive a lump sum of cash which they can put to use immediately to grow their business. We think this is more useful than drip feeding the value over the lifetime of a loan. SMEs are the lifeblood of our economy and we’re delighted to be part of a scheme that means we can offer this new initiative to our customers.  Barclays is open for business, last year we beat our Project Merlin lending commitments to SMEs and I encourage any SME that thinks it would benefit from financing to come and talk to us. The funding is limited so we need to ensure as many businesses as possible are aware of and taking advantage of this new scheme. ”

Steve Bray Continues “After running a competition to name our new building with our 3000 “Facebook” friends I’m delighted to announce the building will be called “Bastion House” in recognition of our close links to the MOD and the camp Bastion Hospital in Afghanistan. The chances are that if a soldier is treated for a trauma injury in Afghanistan, the medic’s kit will almost definitely contain supplies from SP Services which is very rewarding and brings a real sense of purpose to the business. Despite the tough external environment in recent years, the needs of the Emergency Services worldwide and our commitment to satisfy those needs has not diminished in the slightest. I am totally confident that this major investment will deliver strong revenue growth for the business and look forward to serving all our customers both here and around the world for many years to come.”

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