The refinancing, which comprises a commercial mortgage and invoice finance facility, comes as Stalkers looks to consolidate its national position and increase its competitive edge by expanding its fleet and adopting the latest stock management IT systems.
Family-owned Stalkers was founded in 1968 by Edward Stalker and today turns over £7.5 million per year. The business is currently headed by Edward's son, Hughie Stalker, and operates a 60-strong vehicle fleet from its base in Brampton. Stalkers also has operating facilities in Cowie, Leicester, Tilbury and Felixstowe, and offers a wide range of nationwide haulage services, including overnight trunking and Just in Time (JIT) delivery services for blue chip companies operating primarily in the FMCG, building and civil engineering industries.
The new funding from Aldermore complements Stalkers' existing asset finance funding with the bank, and has enabled the company to free up cash held in property assets, while also providing working capital for growth.
Hughie Stalker, managing director at Stalkers, said: "This refinancing solution from Aldermore has come at an excellent time for Stalkers, as we look to enhance our service levels by introducing state-of-the-art logistics management systems, while retaining the strong heritage and family tradition of the business.
"Working with Aldermore has been straightforward and fuss-free from day one. Having held an asset finance line with the bank for some time, it made sense to move all of our lending facilities under one roof when the time came to refinance. Having one innovative and flexible lender that understands the needs of businesses of our size is easy and efficient, and we look forward to strengthening our relationship with Aldermore as we move forward."
Mark Lindsay, regional manager at Aldermore in the North West, said: "The haulage industry is facing many challenges in today's economic environment, including proposed new fuel surcharges and tight margins in a post-recession goods transport market. But Stalkers is a great example of an adaptable, family-owned business that has found new and innovative ways of thriving where others have fared less well.
"We are delighted to get to know the business and to be able to meet all of its funding needs, as Stalkers strives to remain at the forefront of the independent UK haulage industry."
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