[April 2011] A fast-growing Bacup business has secured a new £225,000 credit facility with Lombard, the asset finance arm of NatWest, to support its expansion plans.
Beta Group Ltd, who manufacture and distribute air filters, also have a wealth of experience in specialist service and maintenance across several markets. The company will use the funding to upgrade and increase its fleet of vans and cars during the next 12 months.
The family-owned business currently operates a fleet of over thirty vehicles, which are used by sales, engineering and distribution staff. Beta Group has taken the decision to increase the size of the fleet after winning several new contracts, including one with a national retailer and another with one of the UK's largest civil engineering groups.
Established in 1987 by the present Managing Director Martin Lewis, Beta Group has developed into a multi-division business, which has a turnover of £5m and employs more than fifty staff. Lewis is supported by a dedicated team of managers and staff who have enabled the company to expand and be the success it is today.
The company operates via four divisions; Facilities Management, Spraybooth Maintenance, Special Coatings and Air Filtration, each of which provides specialist services to customers based throughout the UK.
Martin Lewis, Beta Group Managing Director, said; "We have ambitious plans to grow the business in the next 12-18 months by enhancing the range of services that we provide to all our customers.
"As the business develops and we take on new contracts in different geographic locations it is important for us to have the finance in place to make changes to our fleet as and when we need to."
Lisa Hardman, Relationship Manager at Lombard, said; "Martin has a wealth of experience in this market and continues to attract prestigious clients as a result. We have a long relationship with the Beta Group and look forward working with them as their fleet continues to expand."
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For further information please contact:
Karyn Theron
PR & Communications Manager, Lombard
+44 771 780 7092
karyn.theron@lombard.co.uk
Notes to Editors
Lombard is part of The Royal Bank of Scotland Group. As one of the largest asset financiers in the UK and voted best by Business Moneyfacts in 2009, 2010 and 2011, Lombard provides various forms of asset finance to businesses of varying sizes – from SMEs to large corporates. Products include Hire Purchase, Finance Lease, Operating Lease, Sale and Leaseback, Contract Hire, to Contract Purchase, as well as multi-specialist asset finance products such as marine, aviation and specific wholesale and stocking funding for distributors and dealerships.
Celebrating its 150th anniversary in 2011, Lombard is headquartered in Redhill, Surrey, with an extensive network of business centres situated throughout the UK, and is an appointed representative of The Royal Bank of Scotland plc, which is authorised and regulated by the Financial Services Authority.
