Doncaster-based Mobile Installation Solutions has moved to a 30,000 sq ft new premises and will be creating 15 new jobs, with support of a tailored six-figure funding package from Lloyds Bank Commercial Banking.
Specialising in the sale and fitting of car and van accessories, the company has experienced a period of significant growth since launching in 2003, with its turnover expected to reach £4 million by the end of 2015.
Directors, Mark Warner and Stuart Parkin, decided to relocate the company after recognising that their previous, smaller premises was limiting their growth opportunities. Moving to the new site in Doncaster has consequently nearly quadrupled the company’s capacity, with 18 vehicle fitting bays now installed on-site.
Moving to the new facility has also allowed the firm to expand its services, and it now offers in-house sign writing, metal and wood fabrication and respraying services to customers. The company has also won a series of new contracts as a result of the expansion and most recently took on Kirklees Council as a client.
The firm also specialises in the fitting of Vantage Systems van racking, a British-made shelving system specifically designed for tradesmen.
Mark Warner director at Mobile Installation Solutions, said: “Moving to the new premises will provide a wealth of opportunities for our firm, helping us to continue with our growth plans over the next few years. To help capitalise on the increase in demand we’re due to create 15 new jobs over the next 12 months.
“Because of this new funding we’ve been able to relaunch our website and add additional products and services to it. As a result, we expect our sales to increase by 35 per cent by the end of this year.”
To fund the move to the premises the management team approached Lloyds Bank Commercial Banking, which provided a six-figure loan through the Funding for Lending Scheme, through which customers can receive discounted lending for the life of their loan.
The company also received a six-figure asset-based funding facility from Lloyds Bank Commercial Finance, which has allowed the firm to release capital from its assets that can then be invested in the company.
Stuart Parkin said: “Our relationship team at Lloyds Bank were an integral part of making the move a success, and took the time to thoroughly understand our business and its goals, offering tailored guidance and support when needed.”
Tom Wadsworth, relationship manager for Lloyds Bank Commercial Banking, said: “Mobile Installation Solutions has grown significantly over the past few years, with the management team constantly exploring new ways to expand services on offer to customers.
“It was obvious that their previous site was starting to limit their growth, so when they approached us for the funding for the new site, we immediately recognised how it would benefit the company and achieve their long-term ambitions.”
Lee McAllister, relationship manager at Lloyds Bank Commercial Finance, said: “Asset-based finance is perfect for growing businesses like Mobile Installation Solutions, as it allows them to drive growth without affecting day-to-day cash flow.”