Funding package helps family-owned fire and security firm secure transformative new deal
A Bristol-based family firm has won a new contract to provide fire safety and security equipment to the new Hinkley Point C nuclear power station, with support from Lloyds Bank Commercial Banking.
Astron Fire & Security says the eight-year deal will boost its annual turnover by 25 per cent and open the door to more large-scale contracts in the future.
Read time: 5 mins Added: 04/01/2019
It will install fire extinguishers and CCTV cameras at on-sight accommodation at the Hinkley Point C Campus, which will house 500 contractors working on the £20 billion project, as well as providing maintenance of the fire alarm, intruder alarm and CCTV systems.
A stepping stone
Astron turned to Lloyds Bank to secure a £90,000 specialist infrastructure loan, which has been designed to help small firms access supply chain opportunities at Hinkley Point C.
The funds have been used to cover the wages of an extra on-site engineer, a new van to transport equipment and £20,000 worth of laptops for its engineers.
"Not only does this expose our engineers to large-scale, national developments, but allows us to grow our professional network."
Greg Van Laun, director at Astron Fire & Security
"This is a fantastic opportunity to be involved in a large-scale project like Hinkley Point C.
"The funding has been invaluable and, in many ways, a stepping stone for us to engage in a big-name project. The team at Lloyds Bank fully understood what we were trying to achieve and we look forward to working with them again in the future."
Craig Driscoll, relationship manager at Lloyds Bank Commercial Banking, said:
"Greg and the team at Astron Fire & Security have an outstanding local reputation for high quality service, and most of their referrals are purely from word of mouth.
"We are committed to helping Britain prosper by supporting ambitious businesses like Astron Fire & Security. That’s why we have provided £100 million to firms in the Hinkley Point C supply chain and increased our net lending to start-up, SMEs and mid-market businesses by £2 billion."
"Astron’s gleaming reputation is what is winning them substantial contracts such as its latest one with Hinkley Point C."
Craig Driscoll, relationship manager at Lloyds Bank Commercial Banking
Lloyds Bank has provided a £100 million fund to help small businesses take advantage of supply chain opportunities in the construction of EDF Energy’s Hinkley Point C nuclear power station in Somerset.
The fund is designed to support SMEs across the country access discounted lending and become involved in one of UK’s biggest investment and construction projects.
Please contact your relationship manager to find out more.
All lending is subject to status.
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