A Nottinghamshire-based plumbing, heating and electrical contractor has secured a bespoke debt financing facility from OakNorth Bank to support the business’s growth plans following the completion of its management buyout in 2020.
Based in Sutton-in-Ashfield and incorporated in 1968, Neil Shacklocks undertake settlement projects in the East Midlands and South Yorkshire areas.
Its client list includes some of the largest blue-chip home builders including Taylor Wimpey, McCarthy & Stone and Barratt Homes, with previous notable projects also including Barcelona’s Olympic Village complex, Center Parcs’ Thetford site, the Don Valley stadium and the Folkestone Canal. Complex of tunnels.
Chris Hodgson, Managing Director of Neil Shacklocks, said: “Since launching Neil Shacklocks over five decades ago, he has managed to build a comprehensive and very impressive portfolio of clients, managed by a dedicated and forward-thinking professional team.
“The business is continually looking to improve its performance and with the dramatic increase in sales in the plumbing and heating supply chain following the pandemic, we are confident that Neil Shacklocks is poised to thrive. in the future.
“We are grateful for the support we have received from the team at OakNorth Bank, who have been transparent and entrepreneurial in their approach. The funding will enable our new management team to pursue our growth strategy. company, which will place a strong emphasis on building efficiency.”
Dale Cowdell, Associate Director of Debt Finance at OakNorth Bank, added: “I have known Neil Shacklocks for almost a decade and during that time the company has truly established itself as a leader in the banking industry. plumbing, heating and electrical services.
“He has a reputation as one of the best and biggest contractors operating in the East Midlands and South Yorkshire since he started over 50 years ago. The sector is set to see significant growth over the next five years. years, Neil Shacklocks is uniquely positioned to seize this opportunity.”
OakNorth Bank was advised on the transaction by Harrison Clark Rickerbys.