Member Article

Normanton generator firm to expand after securing £1.15 million loan from Yorkshire Bank

Normanton-based generator hire company Generator Power is set to expand further after securing a £1.15 million loan from Yorkshire Bank.

Generator Power will use the loan to purchase a variety new generators which will then be hired out to businesses nationwide to supply power for emergencies, events, planned outages as well as supplementary and backup power.

The Asset Finance line was arranged by Pete Sumners, business development manager at the Bank’s Business and Private Banking Centre in Leeds.

Generator Power was launched 1997 by managing director Steve Cardwell and in the past four years it has experienced substantial growth, turning over £18.4 million in 2013.

It also obtained a diverse range of customers including Northern Power Grid (Yorkshire Electricity), Scottish Power and Utilities Water. The company now employs more than 100 people.

Steve Cardwell said: “Our business helps keep the lights on and the water running. The Asset Finance loan from Yorkshire Bank will allow us to continue to support new and existing customers while allowing us to invest in other areas of the business.”

David Maybury, head of Yorkshire Bank’s Business and Private Banking Centre in Leeds, said: “It’s great to work with and be able to support a thriving local business like Generator Power.

“They play a crucial role in the supply of temporary power to various businesses not just in Yorkshire, but across the country.

“Yorkshire Bank remains focussed on investing in the local economy and it’s extremely rewarding to know that we can play a part in supporting the aspirations of ambitious firms like Generator Power.”

Pete Sumners said: “This is a first deal with Generator Power for the Bank, and as they continue to grow, we look forward to increasing our Asset Finance lines to support the growth. I wish Steve and his team every success.”

This was posted in Bdaily's Members' News section by Clare Burnett .