A construction equipment supplier has expanded into new premises following a seven-figure investment.
Robert Coates (Plant Sales) Ltd has moved to a new 5.6 acre site in Talke, Newcastle-under-Lyme, after securing £1.7 million funding from banking-giant Barclays.
The new site, which has seen the company’s two previous operations brought together under one roof, will provide additional warehousing space, a showroom and five additional units which will be available for rent next year.
The move will also see four new jobs created at the family-run business.
Robert Coates, managing director at Robert Coates (Plant Sales) Ltd, said: “Moving to the new site will allow the continued evolution of our business.
“I started selling commercial vehicles over 40 years ago and have developed a family business, which now exports all over the world.
“We are already a CASE dealership and will shortly be adding another two manufacturers to our product range – further expanding our offering to new and existing clients. ”
Robert Coates (Plant Sales) Ltd was established in 1980.
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The company supplies, hires and services a range of heavy plant and machinery such as dozers, excavators, cranes and commercial vehicles for the new and second hand sales market.
The business currently employs 10 staff and boasts an annual turnover of around £6 million.
Mr Coates added: “This is very much a family business with my two sons and daughter working in the company.
“We specialise in the new and second hand sales market for heavy plant and we are growing the business in the right direction.”
Steve Sargeant, relationship director at Barclays Business Banking, said: “By really understanding the business and the industry sector, Barclays has been able to provide a funding package to support Robert Coates (Plant Sales) Ltd throughout this exciting expansion.
“A £1.7 million investment in the new premises demonstrates both Barclays and Robert’s confidence in the continued growth and success of the business.”