A company which supplies equipment used to demolish everything from retired jumbo jets to football stadiums is eyeing record revenues as it expands its product range and targets new sectors.
ECY Haulmark is reaping the benefits of a £1m refinancing deal as its owners look to increase annual turnover from £10m to a record £12m over the next two years.
The Warrington-based business has used the additional facilities created by the deal with Praetura Commercial Finance last year to invest in more equipment and two new delivery trucks to enable it to grow its customer base.
ECY Haulmark supplies the UK and Irish demolition, quarrying, plant hire and recycling industries with attachments including crusher buckets, hydraulic rock breakers, scrap shears, grabs, concrete pulverisers and magnets.
It has the UK distribution rights for several leading manufacturers, including OilQuick, which is a Swedish-made automatic quick coupler system, FRD Furukawa, LaBounty and VTN.
The attachments it sells and rents out are mainly used to demolish concrete buildings and structures, but have also been used in projects to dismantle end-of-line jumbo jets, oil refineries, power stations and factories.
Recently it has supplied attachments used to demolish Tottenham Hotspur FC’s White Hart Lane stadium, as well as disused offshore pipelines and installations.
Accountancy firm HURST is advising ECY Haulmark on its expansion strategy.
Tim Potter, chief executive of HURST, said: “It’s great to see ECY Haulmark continuing to prosper. The company has taken some major steps forward in recent months and we look forward to working with the management team to fulfil their strategy.”
The company’s roots trace back to 1961 when brothers Colin and Eric Yarwood established ECY Holdings. The business acquired Haulmark Equipment in 1995 and ownership has since passed to cousins Richard and Philip Yarwood, sons of Colin and Eric respectively.
The business currently employs 37 staff and is recruiting.
ECY Haulmark also operates a division which supplies and installs security barriers and fencing at locations such as car parks, airports and retail parks.
Richard said: “The refinancing arrangement has provided us with welcome additional facilities to grow the business. We’ve invested in more attachments for the hire fleet to increase our stock offering by 25 per cent, and we have also invested in two new 20-tonne delivery wagons.
“We are operating in a competitive market so we have to be able to provide what customers want, when they need it, while ensuring our products are of the highest quality.
“We see strong growth potential for the business over the coming years as we look to expand into other exciting and emerging markets.
For more information on ECY Haulmark visit www.ecyhaulmark.co.uk