Santander Business Banking have enabled a management buy-out at Express Hose & Fittings, the hydraulic and pneumatic hose manufacturer, that supplies blue-ribbon clients such as Rolls Royce, Uniper, and Babcock International.
The funding deal valued at £368,000 will ensure that supplier payments are processed quickly.
Express Hose & Fittings offer a range of hydraulic and Pneumatic products and services to a wide range of industries, including: food processing, construction, manufacturing, agriculture, transport and engineering.
The Mansfield-based business has a full mobile on-site service utilizing fully equipped mobile workshops for the immediate manufacture and replacement of hydraulic hoses at the customer’s premises or operating site.
The business plans to explore international markets as a result of the recent period of growth and is also looking to hire apprentices in order to create a strong leadership pipeline for the future.
Paul Toplis, Director at Express Hose & Fittings, says: “With this funding we will be able to strengthen the business’ position as a market leading firm at the centre of the supply chain for many UK and international businesses.
“We are now looking to build on this momentum and take Express Hose & Fittings to the next level and the funding from Santander Business Banking has been key for us to realise our plans.”
Paul Richardson, Relationship Director at Santander Business Banking, adds: “Express Hose & Fittings provides an unparalleled service to their clients and is now in a strong position to expand. We are delighted to be able to support a UK manufacturing business at the heart of the UK supply chain which is so highly regarded in its field.”