Bank assist engineering firm in upgrading premises

CD Engineering Services from Teesside has made a significant move from Middlesbrough to Stockton-on-Tees thanks to a six-figure funding package from their bank.

This larger base will enable the business to increase its capacity and cater for recent growth. The deal which provided funding for the premises purchase was arranged by relationship manager, Angela Armbruster.

CD Engineering Services carries out electrical installation contracts for commercial and industrial organisations. In the previous year, revenue has increased from £1m to £1.7m and the business has secured £4.5m worth of work over the next financial year.

Established eight years ago by director, Peter Cass, the company plans to grow as a result of increased activity. Darren Charlton who has more than 20 years’ experience in the industry, most recently in operations management, has recently joined the business as a director.

Peter commented he had always wanted to purchase a property rather than rent due to the greater degree of freedom that comes with it. “With the recent growth we’ve experienced alongside support from Yorkshire Bank, I’ve been able to do just that. This purchase will lead to higher revenue for the business, allowing us to invest in recruitment in the near future.”

As a private customer of Yorkshire Bank for fifteen years and a business customer for eight, he added: “I have always appreciated the personal service I get from Yorkshire Bank and the flexibility of the products they provide is hugely beneficial for my business.”

Angela Armbruster, relationship manager at Yorkshire Bank’s Customer Banking Centre in the North East said the company has seen an impressive growth over the past few years, which is on path to increase further. “We are thrilled to have supported long-term customer Peter by providing the full purchase price of his new larger premises.”