Leading independent forklift truck battery and charger supplier Industrial Battery and Charger Services is expanding with the help of bankers HSBC and Finance Yorkshire.
The company, based in the Darnall district of Sheffield, has acquired premises on the Hellaby Industrial Estate as part of a plan to expand its hire division.
Managing director Jonathan Jones said: “The financial support from HSBC and Finance Yorkshire will enable our business to implement its ambitious growth strategy.
“We have experienced an increase in demand for hire products and the new premises will provide us with the space we need to increase our stock levels to meet demand from new and existing customers.”
HSBC’s Area Commercial Director for South Yorkshire Martin Nattrass said: “We have worked closely with IBCS since 2003 and we are pleased to continue our support as the company takes its next step.
“The business has enjoyed significant success and this move will allow it to continue its growth strategy, benefiting the local economy by creating new jobs.”
IBCS was established in 1984. The company has a £2 million turnover and currently employs 14 people – although that number is expected to increase.
Funding was provided by HSBC’s South Yorkshire commercial banking team. The deal was led by HSBC’s international business manager Jon Gillgrass and Karl Hodson from Finance Yorkshire.
n The Confederation of British Industry has praised Business Secretary Vince Cable’s proposals on executive pay.
Director-General John Cridland said the proposals would take some of the heat out of the issue, adding: “High pay must be for outstanding, not mediocre, performance.”