Essex; Security and logistics firm secure �17m to fund expansion
AN Essex-based, has secured more than �17million worth of funding to support the on-going growth of the company.
Over the last 20 years, Wilson James, which provides managed security, as well as logistics support to the construction and aviation industries, has established itself as a premium niche player within the security and logistics markets, working with high profile customers such as the BBC, British Gas, BP and BAA Airports Ltd.
The firm, based at Westcliff-on-Sea, near Southend-on-Sea, has grown on average by a fifth each year, going from a �32m turnover company to �100m turnover in the last 10 years.
The business employs over 3,000 people across the UK. The funding deal with Lloyds Bank provides the working capital facilities required to support continued business expansion and marks the first change of bank for the company since 1999.
Wilson James finance director Mark Abraham said: “We pride ourselves on being a premium brand, offering the highest quality in services through the employment and care of the best quality staff. Having taken the time to review our banking needs, we were particularly impressed by Lloyds Bank’s similar relationship-led approach. This, combined with a commercially competitive offer, and the bank’s on the ground local team, made Lloyds the perfect fit with our business.”
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Jon Sedgwick, Relationship Director for Lloyds Bank in Essex, said: “Wilson James has proved itself to be a highly entrepreneurial business that continues to buck the economic trend through its strong investment in staff training and wellbeing. This innovative approach demonstrates the skill of the management team and is a key reason why we’re so excited to be supporting the business. We’ve been watching Wilson James’ development over the past 10 years and are delighted to now be working with the team to secure the firm’s continued success.”
The deal marks a renewed focus on Essex for Lloyds Bank. Regional Area Director Philip Fulton said.
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“Despite the challenging economic picture, we grew our lending to businesses in this part of the country in the first quarter of this year. We’re keen to work with well-run Essex businesses like Wilson James and help firms take advantage of opportunities for growth as they emerge,” he said.