One of the North West’s largest family-owned scrap metal recycling businesses is targeting international growth after securing a six-figure funding deal with Yorkshire Bank.
Tyldesley-based Maxilead Metals has used the funds to purchase a new container titling machine for its £3.5 million purpose-built facility. The equipment will enable the business to grow significantly by using the latest technology to efficiently fill containers with scrap metal, seal them and then export the metal to countries around the world.
Access to these markets will mean Maxilead Metals can command higher prices for the metal than currently available in the UK market. The company has already begun using the machine to export scrap metal from its state-of-the-art facility to locations including India, Holland, and Bangladesh.
Maxilead Metals has been trading for more than 30 years, with turnover now exceeding £15 million per annum. It employs 30 full-time staff, with plans to take on a further three recruits after securing the funding package.
Peter Clay, founder of Maxilead Metals, said: “We have ambitious plans for growth on the back of the funding deal provided by Yorkshire Bank. The new tilting machine will allow us to ramp up our export potential, giving us access to a range of new markets which we couldn’t reach before. We’re at the forefront of the industry already, and this machinery will make us even more competitive.
“Recycling scrap metal is incredibly important for the environment, helping businesses to be more sustainable and conserve natural resources. We continuously aim to develop our premises and our people, and have further plans to grow the business in the near future.
“Yorkshire Bank has been the perfect partner for Maxilead Metals and instrumental in the business’s growth. Ian Walkden and Stephen Cox have been great supporters of our company and we can’t recommend them enough.”
Yorkshire Bank is funding the procurement of the machinery through an asset finance package. In addition to this purchase, Maxilead Metals is also looking to expand its commercial fleet and make two further asset acquisitions in the months ahead.
Sean Williams, Head of Yorkshire Bank’s Manchester Business and Private Banking Centre, said: “It’s great to work with and be able to support a thriving local business like Maxilead Metals. The company demonstrates the incredibly important role that enterprising family-owned businesses play in the region and typifies their ambitious nature. We’re particularly pleased to help Maxilead Metals reach new markets abroad and become another successful British exporter.
“Yorkshire Bank remains focussed on investing in the local economy and it’s extremely rewarding to know that we can play a part in supporting the aspirations of ambitious firms like Maxilead Metals.”
Yorkshire Bank recently launched a series of lending initiatives for UK businesses, designed to encourage growth for new and existing customers. As well as capital-free periods for up to five years, the Bank has also introduced high percentage funding for businesses to purchase trading premises.
Yorkshire Bank has also 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 Yorkshire Bank will help more small businesses achieve their growth ambitions.