Derbyshire family business powers growth through six-figure funding package
Derbyshire-based hydraulics and pneumatics supplier, Shepherd Hydraulics & Pneumatics Ltd, has received a six-figure funding package from NatWest to support future growth.
The £200,000 funding package will help the family business, run by Ian Shepherd and his sons, to develop its ambitious plans and expand its existing workforce.
Shepherd Hydraulics & Pneumatics specialises in a wide range of hydraulic components and machinery, including the supply of hydraulic hoses, pumps, power packs and cylinders. The business is also the only stockist of Aeroquip EPDM hoses outside of the UK.
The family-run business sets extremely high standards for its engineers, ensuring each member of staff can provide customers with in-depth knowledge of Shepherd’s products and services from the trade counter in Alfreton, Derbyshire.
Rapid Cash – a working capital facility that links in with your accounting package enabling quick and seamlessly borrowing against unpaid invoices – provided a quick and cost-effective solution, with the entire process turned around from introduction to decision to implementation within a week.
The bank’s funds will help support the creation of two new roles within the business, providing a great opportunity for two local people to receive high quality training in the industry.
Owner of Shepherd Hydraulics & Pneumatics Ltd, Ian Shepherd, said “We are a very ambitious company with exciting plans for the future, and the funding package from NatWest has enabled us turn these ambitions into a reality, helping to drive the business forward.
“It is also a time of change, as my sons’ responsibilities are growing, and they are putting their own stamp on our business offering. They will begin to take the lead and push our services forward through the guidance of myself and NatWest, and it’s fantastic to see how things are progressing.”
Lucy Dykes, relationship manager at NatWest said “It’s been highly rewarding to work with Ian and the team at Shepherd Hydraulic & Pneumatics Ltd. We firmly believe in their plans for the company and were quick to build a strong relationship to get the best deal for the business.
“The way we all communicated and worked together to create a tailored funding package was seamless and I’m confident the deal will allow them to grow in new and exciting ways.”