AR Controls Limited has purchased new larger premises after securing a funding package from Lloyds Bank Commercial Banking.
The £600,000 premises in Sunrise Enterprise Park will be jointly funded with £500,000 from Lloyds and the remaining capital raised by AR Controls.
The new 16,000 square foot building will enable AR Controls to manage large scale projects.
After outgrowing its two existing sites the company is now looking to diversify and increase the efficiency of its operations, with its two smaller premises closing later this month.
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Director Andy Ramsey said: “We’ve seen considerable growth over the past year with an increased demand for our specialist services as we continue to strengthen our customer relationships.
“The funding from Lloyds Bank has enabled us to invest in the new premises, increase process efficiencies, improve communications across the business and also continue with our plans to diversify our services.
“As we bed into our new home we’ll also be looking to grow our team which will include several apprenticeship roles. We’re extremely passionate about fostering young engineering talent in the region, which will in turn help to build the future of our business.”
In addition to mechanical and electrical technology development and upgrades, AR Controls now supports the full manufacturing of industrial equipment for its prominent North East customer base in the automotive and construction sectors.
The expansion of the business, which currently has a 20-strong workforce and an annual turnover of £1.5million, will involve recruiting a further five staff, including two apprentices, by the end of 2017.
Dean Whitlie, relationship manager at Lloyds Bank Commercial Banking, said: “AR Controls is a prime example of a business going from strength to strength and taking full advantage of the opportunities across the region.”