Ward Woolston Group, a crane and lifting equipment supplier, is expanding following a £1.2million funding injection from HSBC. The funding has enabled Ward Woolston to acquire LDH Plant in Newport as part of a five-year plan to reach a revenue of £50million through organic and acquisitive growth.
Currently operating throughout Bristol, Oxfordshire and Warwickshire, the deal allows Ward Woolston to expand its operations into South Wales, with four new staff employed as a direct result of the acquisition.
Established in 2015, Ward Woolston’s aim is to become one of the UK’s largest heavy machinery providers, and the acquisition brings the combined business revenue to £16million.
Scott Woolston, managing director and co-owner of Ward Woolston Group, said:
“The financial support received from HSBC has been incredibly beneficial. We’re thrilled to have joined forces with LDH Plant and look forward to expanding our operations and services into South Wales. We have achieved consistent growth year-on-year and are working to enhance this progression in the near future.”
Tony Leech, HSBC’s Area Director for Business Banking in the North, commented:
“Scott Woolston and his team have a fantastic growth forecast, and the creation of new job roles within the business is positive news for the South Wales job market. We’re delighted to have played our part in the expansion of the Group.”
HSBC has launched a £500 million lending fund to support small and medium-sized enterprises (SMEs) in Wales, as part of a broader commitment to helping British businesses realise their ambitions for growth.