Santander funding drives growth at Freight Movement

Haulage and logistics company Freight Movement Limited is acquiring business premises with the support of a £550,000 finance package from Santander Corporate Banking.

The move will free up capital to invest in further growth of the business.

South East Wales-based Freight Movement specialises in haulage, storage and maintenance of vehicles and has a fleet of 65, including 32 lorries. The funding will help the business purchase one of its currently rented sites in Rogerstone, Newport, freeing up capital to invest in and grow the business. Freight Movement has seen steady growth in recent years from rising sales and customer numbers. It services around 250 SME and blue-chip customers, including Chep UK, Ford (Bridgend), Moulded Foam and Warburtons.

The business was established by Paul Hurley in 1998, and he continues to run the business with his wife Samantha. They currently employ 50 staff.

Paul Hurley, owner of Freight Movement Limited, said: "This acquisition represents the next stage of our company's development. Owning our own premises will give us security whilst freeing up rental cash to invest back into the business. We want to continue to grow our customer base and market share, building on the steady progress made to date. It's been great working with a banking partner that really understands our vision and ambition for the business."

Andrew Woodgate, Relationship Director for Santander Corporate Banking, said:  "At Santander we are committed to supporting strong, viable businesses, of which Freight Movement is a great example. With its dedicated management team and sound plan for the future, we have no doubt that Freight Movement will make a success of this next stage of their growth journey. We look forward to working with them in the future."