October 2, 2014 10.38 am
This story is over 108 months old
Lincoln haulage firm expands after £600k funding boost
Bigger and better: A Lincoln-based haulage and logistics company is expanding after securing a £600,000 funding package.
David Burgess from Clydesdale Bank’s Business and Private Banking Centre in Lincoln and Geoff Hill, managing director at Rase Distribution. Photo: Chris Vaughan
A Lincoln-based haulage and logistics company is expanding after securing a £600,000 funding package.
Rase Distribution Ltd, which saw a 10% growth in turnover in the last two years, has added 12 new trailers to its fleet after receiving a £600,000 funding package from Clydesdale Bank.
The firm, which was founded in 1967, is based at Wickenby Airfield in Langworth.
It is one of the UK’s leading independent logistics providers to the packaged hazardous goods sector and a range of other industries.
The £8.75m turnover business currently employs 105 staff and runs a fleet of 50 vehicles.
In total it manages more than 35,000sq metres of high quality secure storage facilities.
Following a number of new client wins, it placed an order earlier this year for 12 trailers, including two double-decker trailers, purchased as part of this deal.
These trailers are among the UK’s first double-decker trailers that comply with the most recent European construction standards.
The company’s recent additional services also included a significant investment in an online IT system, offering a ‘real-time’ and fully integrated inventory management system.
Geoff Hill, Managing Director at Rase Distribution Ltd, said: “The funding we received from Clydesdale Bank has enabled us to keep growing the business in a considered way.
“We are already targeting a turnover of £9.5m this year and are looking for opportunities to open new depots at locations near to main road infrastructure.”
The deal was arranged by business development manager David Burgess from the Business and Private Banking Centre in Lincoln.
David Burgess added: “This was the company’s first transaction with Clydesdale Bank. Geoff is forward-thinking and ambitious. He has big plans for Rase but he balances this with a sensible growth strategy.
“While recognising that there is the capacity for further expansion, it’s the company’s high level of customer service – primarily its attention to detail – that has enabled it to win major contracts.
“As the economic outlook continues to improve, Clydesdale Bank remains focused on supporting the growth ambitions of businesses in Lincoln.”
The Lincolnite welcomes your views. All comments are reactively-moderated and must obey the house rules. Please stay on topic and be respectful of other readers.
A senior lecturer recently celebrated the news that East Midlands Railway will increase its train capacity on what he felt was an “overcrowded” service between Lincoln and Leicester.
Amir Badiee lives in Loughborough and for the past seven years has been commuting to his job at the University of Lincoln, but over the last two years he believes the train service has got worse. When he complained back in March he said he didn’t receive any response, but he believes his recent concerns aired in The Lincolnite helped to prompt a positive outcome.
Schools and universities in Lincolnshire recognise the potential benefits, but also the concerns, over the use of artificial intelligence.
The results of the government’s first ever Call for Evidence on Artificial Intelligence in Education’ report were published on Tuesday, November 28. It was open for 10 weeks and closed on August 23 this year, with 567 responses received during that time. Most respondents were “broadly optimistic” about the use of GenAI in education.
Whatsapp
