Timber firm branching out with new deal
A YORKSHIRE-based timber firm is gearing up for expansion after arranging loan and overdraft facilities, worth £3.75m, with The Co-operative Bank.
The finance package will be used by North Yorkshire Timber, based in Northallerton, North Yorkshire, to replace an existing finance facility with Bank of Scotland.
The business was established in 1979 and has an annual turnover of 15m.
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Hide AdIt is one of the largest independent timber importers and merchants covering North Yorkshire and the North-East, and employs 120 staff.
Angus Allan, corporate finance partner at Clive Owen & Co, provided advice and support to North Yorkshire Timber during the refinancing process. He said: "North Yorkshire Timber is a successful and ambitious business and a key local employer.
"This new finance package will help them to continue to prosper and grow into the future."