Stockton-on-Tees firm Halt Hire is expanding its equipment range and increasing headcount after receiving a six-figure investment funding from NPIF – FW Capital Debt Finance, which is managed by FW Capital and part of the Northern Powerhouse Investment Fund.
Halt Hire, which provides access equipment and support to the mechanical, electrical, construction and engineering market sectors across the UK, has experienced significant growth year on year. As a result funding will be used to purchase new equipment to meet the increasing demand for their services. The company has created two new jobs at its Stockton-on-Tees site and opened a new branch in Barnsley, Yorkshire which has created a further three jobs.
Founded in 2016, Halt Hire is led by Managing Director Simon Whitfield who has over 28 years’ experience in the construction and equipment hire industry. His senior management team have a combined 60 years’ experience in delivering successful and innovative products to the sector. The business has a turnover of £1.2m and today employs 9. Products for hire include scissor lifts, access platforms, toilets, heaters, diggers, dumpers, and small power tools. The business also sells the consumables needed to power or heat generators with a range of gas cannisters available.
Simon Whitfield, Managing Director at Halt Hire, said: “Over the last year we have seen unprecedented growth at Halt Hire Ltd, and taken our fleet stock holding to over 3500 products, and it is rising. We aim to offer the highest quality products at competitive rates to our customers and the funding boost from NPIF - FW Capital is allowing us to expand our range of products. We’ve grown significantly and created new jobs to meet the increased demand for our services and are delighted to open a new branch in Barnsley.”
Adam Collin, Portfolio Executive Assistant at FW Capital, said: “Halt Hire is a well-established and respected local business and a great example of how funding can be used to help growth. By creating new jobs and purchasing additional equipment, Halt Hire is well placed to increase sales and drive future success. Their success is further seen with the recent expansion of the business with the launch of the Barnsley branch. Simon and his team are extremely experienced in this sector and impressed Adam and I with their high growth trajectory ambitions.”
Debbie Sorby at British Business Bank, said: “Halt Hire’s commitment to providing essential equipment and support to the construction and engineering sectors fuels economic growth within the region, as well as sets a striking example of the UK actively working towards sustainable development goals. By meeting the rising demand for their services, Halt Hire not only thrives as a business but also catalyzes job creation in regions like Stockton-on-Tees and Barnsley, bolstering local economies.”
NPIF – FW Capital Debt Finance is managed by FW Capital and part of the Northern Powerhouse Investment Fund. It can provide loans in the NPIF region with a focus on Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside and the Tees Valley.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
