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Hannaman Material Handling Secures £600,000 Additional Funding for Future Expansion

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Hannaman Material Handling Ltd in Deeside has acquired a number of new & used forklifts and additional funding for future expansion after a £600,000 funding package from Barclays.

Hannaman Engineering as it was formerly known, was acquired by Steve Downey, Managing Director in 2013 and the company then supplied mainly forklift trucks. The business currently employs 21 staff and expects turnover to exceed £2 million this year.

dsc_0684Steve Downey said,

“After working for over 25 years for the British Army as a mechanical engineer and then within a number of industries having left the forces, the opportunity to acquire Hannaman’s was presented to me. I managed to raise the funding initially with the help of Finance Wales plus some other borrowing and personal investment, and since then the business has gone from strength to strength as we have been able to diversify the business into other markets which has grown our portfolio to being more of a full 360 material handling provider.”

Mike Lockwood, Barclays Business Banking Manager, said

“By really understanding the business and the industry sector, Barclays has been able to provide a funding package to support Hannaman Material Handling Ltd. The £600,000 refinancing package has saved Hannaman over £60,000 a year and will result in at least 3 new jobs as a direct benefit to the company in addition to the investment into new material handling equipment.”

Steve Downey continues,

“We continue to focus on sustainable organic growth within the business and have recently been awarded the Mitsubishi Forklifts and Baumann Sideloader approved dealerships for North Wales and the North West. Hannaman’s success has been built by caring for our customers and providing a quality, price competitive service to every client no matter how large or small their business requirements. Our people and our range of high quality equipment’s help us to combine and provide the best solutions for our customers.”

For further information visit www.hannaman.co.uk