Oxyburn buys new site and machinery

Founded over 14 years ago, Oxyburn produces vehicle recovery equipment ranging from tilt and side, beaver tails, HGV under-lifts and customised curtain sided units.

The business approached Lloyds Bank Commercial Banking to support the purchase of 980 sq. ft. premises next door to its existing site on Shelah Road, which is now under conversion into an accident repair centre for vehicle body repairs and re-spraying.

It also received an asset finance facility from Lloyds Bank's Commercial Finance team to fund the purchase of a 160 tonne 5 axis's CNC hydraulic press, which is used in forming of sheet metal for the manufacture of vehicle body platforms. The machine has enabled the business to increase its output by 20 per cent, whilst using the finance facility ensured the purchase did not impact its working capital.

Oxyburn plans to continue to invest in equipment to grow its capacity as it looks to increase its turnover by 35 per cent in the next three years.

Mr Billingham, business manager at Oxyburn Limited, said: "It has been a long-term strategy of ours to add an accident repair arm to the business so we can provide a 'one-stop-shop' service to our customers. The funding from Lloyds Bank has been the driving force in enabling us to do so, and the investment in additional machinery has given us the capacity to further explore expansion opportunities, both with new and existing clients.

Rob Taylor, relationship manager at Lloyds Bank Commercial Banking, said: "Oxyburn Limited is an example of an ambitious firm with a clear growth strategy, and the two-fold investment will ensure it has the capacity and service offering to continue growing its client base.

"We are dedicated to helping companies capitalise on expansion opportunities, and have increased our lending to small and medium sized businesses by 26 per cent since 2011, while the market has contracted by 13 per cent."