A Borders-based telecommunications business which provides installation services across the UK to companies including BT and TalkTalk is growing and creating new jobs with support from Clydesdale Bank.
QubeGB Ltd, which is headquartered at Galashiels, in southern Scotland, and operates a support centre in Stevenage, Hertfordshire, has received a seven-figure funding package from Clydesdale Bank’s Borders Business and Private Banking team to grow its service range and deliver new contracts.
Operating throughout the UK, Qube was formed in 2007 with only three employees and a limited service offering. Since winning a contract with Tiscali in 2010, Qube has expanded to offer a comprehensive range of telecommunications services including IT, e-commerce and digital media services.
Among its customers are some of the UK’s top communications providers including BT, TalkTalk, EE and Tesco Residential. The company is also the official contractor for YouView, a joint venture between BBC, ITV, C4, C5, TalkTalk and BT.
Qube is widely recognised as an industry leader. It has twice been listed on the prestigious Hiscox Sunday Times Tech Track 100 (2013, 2014). In addition, it was ranked as the 24th fastest growing technology company in the UK in Deloitte’s Technology Fast 50 and 164th in Deloitte’s Technology Fast 500 across Europe, Middle East and Africa.
The business became a Clydesdale Bank customer in 2012. It has since doubled the number of staff on its books, rising from 257 to 537 employees and it recently obtained a significant increase in facilities in order to deliver new contracts. Turnover was £26 million last year (2013-2014).
Cameron Smith, group finance manager at Qube, said: “The support provided by Clydesdale Bank over the past three years has been critical in enabling Qube to grow. Its flexible facilities has helped us to increase the number of engineers and business support staff we employ, and we have also been able to invest in warehousing, technology, fleet and a call centre to support the growth of the company.
“The Bank has been an excellent funding partner and we look forward to working with its knowledgeable team to continue our growth.”
Stuart Anderson, a relationship manager in Clydesdale Bank’s Carlisle Business and Private Banking Centre, where the Borders team is based, said: “We are proud to support Qube, a strong and well managed business which is expanding and creating jobs all over the UK.
“Our specialist knowledge of and focus on different sectors helps to bring a challenge to the market, giving small and medium sized business the speed and flexibility they require to fulfil their growth ambitions.”
Clydesdale and Yorkshire Banks has strengthened its support for UK SMEs by becoming the first to partner with the British Business Bank under its ENABLE Guarantees scheme.
Up to £125m of new lending by Clydesdale and Yorkshire Banks, guaranteed by the British Business Bank, will help more small businesses achieve their growth ambitions.