Midlands-based roofing contractor reaches new heights with £2m funding from Aldermore
Midlands-based Bracknell Roofing, the UK’s second largest pitched roofing contractor, has agreed a £2m facility with Aldermore, the specialist lender and savings bank. The funding will support a management buyout, ensuring the seamless transition of the business into employee ownership and enabling the current management team to utilise their extensive experience to drive the company’s future growth.
The business, which has been trading for over 40 years, is based in Burton on Trent and has a network of ten branches spanning England and Wales. The company specialises in roof slating, tiling and flat roofing systems.
Bracknell is widely recognised and highly regarded amongst Britain’s top housebuilders and has many strong working relationships with regional housebuilders throughout England and Wales.
Bracknell has over 80 members of staff, and a team of over 250 sub-contractors which service contracts throughout the UK.
The business was also recently nominated in the 2016 Roofing Awards, marking its third consecutive year as a finalist.
Simon Smith, managing director at Bracknell Roofing, said:
“This funding comes at an important point in the history of the company. It gives the management team access to the flexible working capital needed to drive the company’s growth in the face of challenging market conditions. This will underpin our long-term prospects as we continue to assist in bridging the UK’s housing shortfall.”
Karen Allen, head of specialist finance at Aldermore, said:
“As a strong supporter of both SMEs and the UK construction industry, we are delighted to be able to support a company which plays such a significant role in Britain’s housing market. Although market conditions are challenging at present, the UK is experiencing a well-publicised housing shortage which will mean strong ongoing demand for Bracknell Roofing’s services.”
