A Swansea vehicle transportation company has built a 2,400 sq ft workshop and invested in its fleet of vehicles, with support of a six figure funding package from Lloyds Bank Commercial Banking.
KHL Logistics used the £80,000 funding to construct a workshop at its premises on St David’s Road Swansea Enterprise Park. It also bought a new rolling road machine, which simulates road conditions to test vehicles breaks.
This will enable the company to service its fleet of 14 lorries on site, reducing the time it will take to conduct routine tests that previously had to be outsourced.
KHL also secured a £200,000 hire purchase and leasing facility to buy a new lorry.
The investment is part of the company’s long-term expansion plans, and it expects to increase its turnover by 23 per cent in the next 12 months.
Karl Leswisse and Alf Leswisse founded KHL Logistics in 1990, when Karl Leswisse bought one lorry and started working with a small number of car dealers in Swansea, transporting cars to auction in Newport.
Since then the business has grown significantly and it now works with more than 100 clients across the UK and employs 24 people from the local area.
Estelle Burbear, director at KHL said:
“We have to carry out tests on our vehicles regularly, so having the equipment on site will considerably reduce the amount of time the lorries are in the workshop.
“Investing in the new lorry is part of our commitment to renewing our fleet of vehicles. This is a significant expenditure for the company, but by securing a hire purchase and leasing facility we’ve been able to spread the cost over a set period of time.
“Since we switched to Lloyds Bank in 2011 we’ve been overwhelmed by the service we’ve received from our relationship manager, Jonathan Richards, and the rest of the Lloyds Bank team. They completely understand our aims and they’re always on hand to provide the support that we need to grow.”
Lesley Williams, regional manager for Global Transaction Banking at Lloyds Bank, said:
“Streamlining processes is one of the key ways that companies can ensure that they’re offering the best standard of service to clients, and the new workshop and machinery is expected to significantly boost KHL’s productivity.
“Hire purchase facilities are perfect for companies that are looking to invest in machinery, as it helps them to buy new equipment without affecting day-to-day cash flow.
“Offering a range of specialist products is one of the ways that we’re helping businesses across Britain to prosper, as it allows companies to access funding options that are tailored to their needs.”