Ipswich logistics firm investing in future with support from Lloyds bank

Ipswich logistics firm investing in future with support from Lloyds bank

A worldwide freight and logistics specialist is investing in its future following the support of a six-figure funding package from Lloyds Bank.

Ipswich-based Charterlink purchased its existing 25,000 sq ft warehouse and head office just before lockdown with the support of a mortgage on the premises secured with Lloyds Bank. This provided the business with certainty that it could continue to operate securely for years to come, by controlling overheads and putting the company in control of its pricing. This also allowed Charterlink to safeguard jobs for its 17 employees through the pandemic, while boosting its profits and laying foundations for new growth.

The company experienced a significant spike in demand for its services since the start of lockdown, with the business turning over record numbers of containers, often filled with in-demand items such as hand sanitiser, disinfectant wipes, PPE and plastic materials used for protective screening. In addition, the company saw a huge rise in Amazon and eBay shipments, linked to the boom in home delivery seen throughout the pandemic, and has increased turnover by 25% to £2.5m.

The business now also plans to invest in future-proofing its premises and making its facilities more eco-friendly and efficient. This includes installing solar panels and electric charging points for its forklift vehicles. Several of its company cars have also already been replaced by electric vehicles.

Charterlink was founded in 2000 as a European express forwarder and has since grown its offering to encompass domestic and international haulage, sea freight and specialist cargo handling, as well as a customs clearance service through its modern warehouse located close to the port of Felixstowe.

Martin Ellingham, managing director at Charterlink, said: “We have always been ambitious in what we do and working with Lloyds Bank to acquire our existing premises was a natural next step in our continued development as a business.

“Not only did this provide the financial headroom to continue growing, but also allowed us to continue operating and secured employment for all our staff throughout the pandemic.

“The support we’ve received from Carl and the team at Lloyds Bank, not only in supporting this purchase but throughout the pandemic, has been integral in our continued success.”

Carl Mortimer-Smith, relationship manager at Lloyds Bank, said: “Despite the pandemic affecting businesses everywhere, it’s fantastic that Charterlink has been able to continue trading and meet the rising demand for its services throughout lockdown.

“Throughout these challenging months, Charterlink has proven its resilience and adaptability, and these qualities will be key for success as businesses continue to navigate changing times like these.”

For more information visit the Charterlink website 

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