Timber Connection eyes growth with Â£6m funding
A £25m-turnover timber supplier in Hertfordshire is looking to pursue its expansion plans after securing £6m.
Timber Connection, which was founded in 1991 by managing director Danny Catherall, secured the finance package from Lloyds Bank Commercial Banking.
The funding will enable the company, which has an inventory worth more than £6m, to pursue its expansion plans as well as maintain and extend relationships with its global partners.
Finance director David Green said: "After concluding our relationship with our previous banking provider, Lloyds Bank stood out to us through the consistency of their approach, meeting our requirements in a simple and uncomplicated way.
"This funding facility from Lloyds Bank demonstrates their commitment to helping us to realise our long-term ambitions to drive our continued growth and expansion and we are pleased to have the right banking partner in place to assist us with these goals."
Cameron Marshall, relationship director at Lloyds Bank Commercial Banking, added: "Timber Connection has demonstrated solid organic growth in recent years and we’re pleased to announce this new relationship with a thriving business. This marks our ongoing commitment to supporting British business.
"The business has a growing reputation within the timber industry both here in the UK and in key international territories, and this investment will help management to consolidate its position as a leader in the sector."
Timber Connection is based at the Crane Mead Business Park in Ware and employs approximately 15 staff.