Plymouth tool hire firm expands into Cornwall
A PLYMOUTH-based tool hire firm has expanded and opened a branch in Cornwall.
South West Hire and Sales Ltd was established in 2007 by Andy Webber in Stonehouse, where it is still based.
He spotted a gap in the market for an independent tool hire service.
A second branch was opened in Torquay and now a third has been added, in Newquay.
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Mr Webber now runs South West Hire and Sales Ltd, which offers building and construction tools for hire and purchase, with business partner Mark Williams.
The pair approached Lloyds TSB Commercial for an asset-based finance facility, based on advancing customer invoices, to help purchase their site in Newquay.
Mr Webber said: "After spending much of my career working for a large national hire firm, I noticed there was an opening in the market for a more personal service that caters to smaller, local companies.
"My experience meant I was well equipped to start my own business. Mark and I are thrilled with the speed at which the company has grown.
"The opening of our new branch is an exciting move and we are keen to look at other areas in the South West to expand into."
Richard Bowley, relationship manager at Lloyds TSB Commercial, said: "South West Hire and Sales is a great example of a business that has capitalised on a demand within the area.
"In just a few short years the business has grown dramatically.
"When Andy and Mark approached us with their business plan we were impressed with their clear and well thought-out strategy for growth."
Roger Edwards, relationship manager at Lloyds TSB Commercial Finance, said: "Using asset based finance facilities can be a great way to help maintain a healthy and consistent cash flow, allowing businesses to reinvest money into other areas quickly and efficiently."