Roofing contractor secures bank deal
AN ESSEX-based roofing contractor which has successfully come through the downturn in the construction sector has now secured a new banking deal to support planned future growth.
The Essex Roofing Company Ltd, which has its head office and a showroom in Hawkins Road, Colchester, has agreed an arrangement with NatWest, part of the part-nationalised Royal Bank of Scotland group, which includes working capital facilities, the value of which has not been disclosed, covering its current operations and its expected future needs.
The company, formed in 1977, offers a complete roofing service to a range of clients across Essex and East Anglia, including national house builders, developers, local builders and private customers.
In addition to its Colchester site, it also has a showroom on the Saddlebow Industrial Estate in King’s Lynn.
Managing director Roger Sharman said that although the construction industry had been hit hard during the recession , Essex Roofing had adapted to market conditions and continued to trade favourably.
The new funding line supplied by NatWest was designed to provide the company with additional working capital to support its current operations and to support growth as the business began to pick up additional work in a recovering construction market.
“Markets have certainly been tough for the last couple of years but we have remained busy, said Mr Sharman. “Our reputation for quality has helped us in being retained for a number of major projects throughout our customer base.
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“We intend to grow further. This new partnership with NatWest is important to us as it provides the solid financial foundation we need to realise our ambitions for the business.”
Matthew Swan, manager, business and commercial banking at NatWest ,worked with colleagues to pull the deal together.
“Essex Roofing is a well established local business that has adapted to recessionary conditions and continued to trade favourably,” he said.
“Our aim is to be a proactive partner as the business looks to take advantage of any positive economic conditions in the coming future.”