Leading European transport components supplier agrees funding deal with RBS

Leading European transport components supplier agrees funding deal with RBS

Europe’s leading supplier of road transport products and components is moving into new premises with support from RBS Corporate & Institutional Banking (RBS CIB).

Expanding Morely-based metals company Service Metals Group

Morley-based Service Metals Group (Service Metals) is to move its Gateshead operation into new premises  in the same area after agreeing a £450,000 finance package with  RBS CIB.

Service Metals was founded in 1976 by its current owners, Graham Wilson, John Winn and Jim Chrimes, and now operates its own transport fleet from 11 depots throughout the UK and Ireland. The business, which has its head office in Morley, in West Yorkshire, offers its growing customer base an extensive stock range of aluminium, sheet, extrusions, GRP panels, timber flooring and commercial body fittings.  

The firm has recently expanded, causing it to out-grow its premises in Gateshead, but was keen to remain in the Tyne and Wear region. 

Ring-fenced capital to help British manufacturers

Service Metals had been a customer of the bank for several years, so approached RBS CIB for funding organised under the Government’s Funding for Lending Scheme and drawn from RBS’ targeted Manufacturing Fund - a pool of ring-fenced capital to help British manufacturers invest and grow.

John Winn, director of the Service Metals Group, is confident that the new premises will give the business an even better platform to continue to grow. He said: “Moving premises is an exciting next step for the business. We’re delighted with the deal that RBS have provided and are confident it will propel us to even more success in the future.”

Andrew Croasdell, relationship director, Royal Bank of Scotland Corporate & Institutional Banking, said: “The Service Metals Group is an example of a great Yorkshire based business.  One of the leading operators in its market across Europe, it has been a long-standing customer of ours and one we’re thrilled to not just have on the books, but be able to help with this latest funding in order for it to move premises, expand and grow.

“We’re proud to be helping our local economy with this deal, and excited about watching such a fantastic business continue to progress.”

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