Welders on their way after NatWest deal
Who?
Weld and Bore, the Shrewsbury line boring specialist.
Did what?
Has secured a funding deal from NatWest as it seeks to establish itself as the sole portable line-boring provider in Shropshire.
What does this mean?
NatWest’s asset funding arm Lombard provided financial support to meet the Shrewsbury-based business’ equipment costs. The bank also provided a working capital facility which has enabled business partners Phil Tracey and Neil Jones to get their business on the road with the purchase of a new vehicle.
Insider comment:
Sometimes an industry sector comes along and we have to hold our hands up and say we don’t know too much about it, and line boring certanly is one of those.
Fortunately for Weld and Bore, it seems that Insider is not alone, leaving space in the marketplace for it to exploit to enable growth. It's another example of a relatively niche business area performing well due to a high level of specialism. Whether it's rare and expensive equipment, or sought-after knowledge, there's money to be made if you have what customers need.
Joint business owner Phil Tracey said: “We saw there was a gap in the market locally for a mobile service. It is so expensive for companies to hire out replacement equipment, or to transport their machinery halfway across the country. Our aim is to reduce the time they are out of action as much as possible, meaning they can be back up and running quickly without any hefty bills for replacement equipment or transportation costs. We’ve invested in the very best equipment that gives us a competitive edge within the industry.”
