Saltire Facilities Management, a leading provider of central heating and electrical services across Scotland and the UK, has secured £2m of funding from Barclays to drive growth plans and streamline business overheads.
The Bellshill based company provides central heating installation and maintenance services for local authorities and the private sector. The Barclays deal, which saw the company bought out from existing shareholders, will finance further development of Saltire’s business plans to bolster its growing client base.
Saltire Facilities Management is led by Finance Director David Weston and Managing Director John Reynolds and employs over 300 engineers. In addition to installation and maintenance offerings, customers benefit from a 24/7 support line, emergency call-out service and professional certification, with all services designed to be safe, cost-effective and sustainable.
This transaction is the latest in a series of deals from Barclays supporting businesses across the country via its SME fund. Launched in June 2016, the £500m fund provides access to capital for businesses across all sectors with turnover up to £25m and reflects Barclays’ commitment to fostering a positive environment for Scottish enterprise to thrive.
The deal between Saltire Facilities Management Ltd and the bank was led by Corporate Development Directors Malcolm Crawford and Jennifer Doran.
David Weston, Finance Director of Saltire Facilities Management Ltd, said: “As our business continues its success, it was important that we partnered with a bank which could help make our short and medium-term goals a reality. The local Barclays team showed a clear understanding of our business and structured a compelling funding package for us.”
Malcolm Crawford, Corporate Development Director for Barclays in Scotland, added: “Our SME fund is a tailor-made offering for organisations like Saltire Facilities Management who wish to grow, diversify and develop their businesses.
“The company has a strong track record of success and continues to identify new avenues of trade. The management team has a strong desire to evolve the business and we will work closely with them to help achieve those ambitions.”
Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US.
With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 85,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.