A company which offers plant and tool hire services is expanding with investment from the North West Fund for Micro Loans managed by MSIF.
DLS Plant and Tool Hire Ltd which is based in St Helens was set up by husband and wife team David and Lisa Sumner in 2013.
The company offers equipment hire such as diggers and dumpers mainly to clients in the construction industry but also members of the public for all types of work including groundwork, drainage and landscaping.
Current clients include Stobarts, Jewsons and Grantreel.|
MSIF has provided a £25k loan through the North West Fund for Micro Loans. It is the second time MSIF has supported the company having provided an initial £25k investment back in 2013 to assist with start-up costs.
Mr Sumner said: “We’ve worked very hard in the last couple of years to get the business off the ground and we’ve established a good client base which is continuing to grow."
“To enable us to take advantage of growth opportunities we need to buy more equipment as we’re currently hiring machinery off other plant hire companies to service the demand which is less profitable for us."
“MSIF invested in us when we first set up and are fantastic to work with. Sue Chambers worked really hard to get what we needed to fulfil our requirements and we are really grateful for their ongoing support.”
MSIF investment manager Sue Chambers said: “David and Lisa have worked really hard to build up the business and this has paid off as they get repeat business from their existing customers and have built up an excellent reputation which is helping to continually attract new clients."
“The company has great expansion prospects and we’re really pleased to be supporting them through this next phase in the company’s development.”
DLS currently employs three staff and expects to take on a further three during the next couple of years. Turnover this year is £400k and this is projected to reach £1m by 2018.