West Yorkshire engineering firm secures funding for state-of-the- art investment
B Allsop Limited, the Huddersfield based sheet metal manufacturer, has agreed a £400,000 finance package with Yorkshire Bank’s asset finance team to support the firm’s investment plans.
The funding has allowed the precision sheet metal engineering firm to invest in a new £500,000 state-of-the-art laser cutting machine which will enhance the ability to cut through thicker metal more quickly. The deal was delivered by Anthony Cope, Relationship Manager, Commercial Banking and Sarah Gwynne, Sales Manager, Asset Finance
The improvement in efficiency will allow the firm to pass on time and energy savings to customers whilst ensuring quality and delivery times are maintained. The new machine is also better for the environment.
B Allsops was founded in 1959 and has expanded rapidly since. It now boasts an annual turnover in excess of £9m, employs 120 staff and has designed and created products for some of the best-known companies in the world.
The company’s industry knowledge and expertise has allowed it to build an impressive reputation for precision work and it now has 200 UK and international customers. It has clients from a range of industries including marine, retail, power generation, air, rail and transport, and defence.
Anthony Cope, Relationship Manger, Commercial Banking at Yorkshire Bank, said:
“B Allsop is an innovative engineering company with a rich and successful heritage. The management have shown great ambition and our support reflects their commitment and determination to continue to build this business. Ian and the team at B Allsop are a fantastic example of the entrepreneurial spirit which is critical to the success of the local and UK economies.”
Ian Johnson, Financial Director at B Allsop, said:
“This funding package will enable us to make a significant investment in our manufacturing capability, helping us further improve our productivity and grow the business.
“We have worked with Yorkshire Bank for many years now because of their flexibility and commitment to local businesses like ours. We’re excited about the future and confident this investment will help us as we
embark upon our next stage of growth.”
For further information, contact:
Chris Watts Bell Pottinger +44 20 3772 521
Yorkshire Bank was founded in 1859 in Halifax, West Yorkshire. Yorkshire Bank is a trading name of Clydesdale Bank plc, part of CYBG PLC Group.
Senior Consultant – Engage
T +44 20 3772 2521
M +44 7768 358 552