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Case Study

Expansion plans on cards for Burnley engineering firm thanks to cash boost

Expansion plans on cards for Burnley engineering firm thanks to cash boost

 15/10/2020

Churchill Plant Engineers, an expert in construction machinery maintenance, has received a £40,000 loan from the Rosebud fund, managed by GC Business Finance.

The business has already used the loan to recruit two new engineers and purchase new equipment to enable it to expand. The new recruits have brought the team up to five engineers as the business aims to set up eight depots in the UK by 2028.

Churchill Plant Engineers offers a comprehensive parts and repair service for the construction industry across the UK. The service is designed to fix 80% of all breakdowns on site to ensure that customers can get back to work as quickly as possible and includes repairs for a range of equipment from lawn mowers to drill rigs, cranes and telehandlers.

The Rosebud fund, an £11.25m pot intended to create in excess of 100 jobs per year, provides business finance to growing businesses in Lancashire County Council’s administration area, backed by Lancashire County Developments Limited. It provides loans of £10,000 to £300,000 to businesses in a number of high-growth sectors.

Steve Cooke, director at Churchill Plant Engineers, said: “The support from Rosebud was invaluable in allowing us to recruit two new engineers onto our team, as well as enabling us to remain open and continue to support our utility customers, who are vital to keeping the country running through this difficult time.

“I can’t thank Jonathan Nelson, senior loans manager at Rosebud enough for his support throughout the process, and the time he took to understand the business and our needs.

"Thanks to Jonathan and the Rosebud team’s trust and belief in our business, we can continue to grow towards our ambition of becoming the UK’s biggest engineer firm.”

Jonathan added: "We are glad that Steve could use the loan to expand his team and create more jobs in Lancashire, and we are looking forward to seeing where this ambitious company goes next.

"It’s great to see that, despite the circumstances, SMEs in Lancashire are continuing to accelerate expansion plans, and Rosebud will continue to support our region’s economy by funding this growth.”

County Coun. Michael Green, Cabinet Member for Economic Development, Environment and Planning, Lancashire County Council, said that Churchill Plant Engineers was a perfect example of the value of the Rosebud fund in creating jobs across Lancashire.

He said: "Rosebud was designed to support businesses in the region that are unable to gain funding from other sources and help them to accelerate their growth potential.

"It is pleasing to see the steps that Churchill has already taken to expand their workforce, and we are confident that the business will continue to go from strength to strength with the support of Rosebud.

"At Lancashire County Council, we similarly look forward to supporting other businesses in the future.”

Businesses interested in applying for Rosebud finance can do so via www.rosebudfinance.co.uk. Applications for finance will be considered from businesses based in the administrative area of Lancashire County Council.

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