A thriving Peterborough company is creating jobs after securing a £1 million funding deal that has allowed it to expand.
Barnack Estates UK, based in Southgate Way, Orton Southgate, which operates in the storage, construction and confectionary sectors, has extended its premises with £1 million funding from the Yorkshire Bank.
The expansion, costing a total of £1.2 million, has allowed the firm, which employs 120 staff, to recruit a further 15 employees with another 10 expected to be taken on soon.
The firm has built an extension to its warehouse and office buildings, which has added 50,000 square feet of storage space to the existing 110,000 square feet premises.
Company owner and chairman, Rob Facer, said: “We had to build more storage space for our products as the business grew, which led to us expanding into the warehousing and construction sectors.
“The support we have received from Yorkshire Bank to fund the premises has been very flexible.
We’ve had to build more storage space for our products as the business grew.Rob Facer, chairman
Mr Facer said: “Our business is quite diverse and having a personal relationship manager who takes the time to really understand what you do is important.
He added: “The Yorkshire Bank team demonstrates a positive approach to assisting us in reaching our ambitions.”
Funding for the construction was organised by Steve Woods, relationship manager at Yorkshire Bank’s business and private banking centre in Peterborough.
Simon Moore, head of Yorkshire Bank’s business and private banking centre, said: “Barnack Estates UK has experienced continued growth over 30 years and has demonstrated an entrepreneurial track record, identifying lucrative opportunities and capitalising on them.
“We are proud to have supported the purchase of the new premises and will continue to work with the business as it continues to grow.
Mr Moore added: “As economic conditions improve, Yorkshire Bank remains focused on supporting the growth ambitions of businesses in the Midlands.”
The Barnack group is made up of three separate businesses.
These are Barnack Confectionery Ltd, Barnack Storage & Logistics Ltd and Barnack Estates UK Ltd (Construction).
Barnack Estates UK was established in 1986, originally trading as a confectionery supplier. The business distributes sweets throughout the UK to a range of leading retailers.
As the company grew, additional warehousing was required and Mr Facer built his first 50,000 sq/ft warehouse and realised he had a flare for carrying out such ventures.
The storage and logistics arm of the firm provides warehousing, pick, pack and dispatch as well as transport services.
The construction part of the business builds industrial warehouses and has developed more than 1.4 million sq/ft of warehousing in and around Peterborough.
Mr Facer said the construction and storage businesses had experienced considerable growth over the last year, recently winning a large number of design and build contracts, reflecting an upturn in the economy.
The group is considering extending its warehouse facilities and services even further in the future to keep up with growing capacity.