Route One Highways
Business Loans Case Study
Route One Highways specialises in major bridge and highway maintenance with the majority of its work in the bridges and structures sector. Types of repair and replacement include bridge deck preparation, structural waterproofing and bridge expansion joints.
Featherstone-based Route One Highways employs 40 people and has contracts with the Highways Agency and major blue chip construction companies. The business was founded by Matthew Pert and Gary Credland and is forecasting an increase in turnover this year, from £3m to up to £6m.
Route One Highways has benefitted from two previous rounds of investment from Finance Yorkshire. Having firmly established the business, Matthew and Gary were seeking further investment to further grow the company and meet demand for its specialist work. They also needed to extend their offices to accommodate a growing workforce.
Finance Yorkshire Involvement
A £200,000 Business Loan from Finance Yorkshire has been used to purchase specialist plant wagons used to install bridge expansion joints and other specialist plant required for the installation of structural waterproofing systems. It has also enabled the extension of the company’s offices.
Director Matthew Pert said: “Finance Yorkshire has been excellent to us, supporting us over the last four years as we have grown the business.”
The Investment Rationale
Finance Yorkshire Investment Manager Jonathan Craig said: “Route One Highways has grown to become a very successful business with a strong reputation across the UK. It is pleasing to support its ambitions to expand further and in particular, the creation of jobs in the Yorkshire region.”
Route One Highways holds single supplier status in a number of long term Highways Agency contracts across the UK making it the market leader for this kind of specialist work.
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire