A drain repair company that operates across Wales and the South West has opened a huge new depot near Bristol, creating 10 jobs.
Arch Drainage Services, which is headquartered in Cardiff and provides advanced diagnostics and drain repair services for businesses and local authorities, has acquired 7,000 sq ft on Avonmouth Industrial Estate.
The business secured a six-figure sum from Lloyds Bank to support the acquisition.
Arch has created more than 20 jobs this year and is now a 50-strong team, led by directors Damian Tranter and Dave Lewis.
Mr Tranter, managing director at Arch Drainage Services, said: “While we’ve faced the same challenges as most businesses over the last six months, we’ve been able to continue delivering essential services to our growing client base.
“We have a bold vision for what the business can be, so it’s extremely rewarding to see it taking shape so quickly as we add new members to the team.
“As we look to deliver further expansion and add new depots, it’s natural that we will experience growing pains. However, having Lloyds Bank by our side is helping us to pursue each opportunity with gusto.”
Earlier this year, Arch secured a £250,000 invoice finance facility from Lloyds to support its growth plans.
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According to the company, the opening of the Bristol depot marks the start of further geographical expansion, with the firm considering options to grow its footprint in the South West as well as expand its reach to include the Midlands.
Helena Warne, associate director at Lloyds Bank, added: “Damian and the team around him have brought boundless energy to the business, which is showing in the turnover growth they’ve generated in the last year.
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“The opening of the new Bristol depot marks a significant milestone in Arch Drainage Services’ journey so far and I’m sure we’ll be celebrating similar markers again in the near future.”
Last year, Arch’s management team announced it was planning to increase turnover to £3.9million by 2022.
The company said it is continuing to “trade well” through Covid-19 and now expects to achieve its three-year growth objective a year early.