Ripon firm to expand with £5m of funding

Hannah Raistrick of HSBC with Geoff Brown of Ripon Farm Services; Nick Riley, finance director at Ripon Farm Services; and Jonathan Rutter, HSBC relationship director in North Yorkshire and Humber. (S)

A Ripon company that supplies agriculture machinery and equipment across the North of England is set for growth with support from a £5m funding package from HSBC.

Ripon Farm Services is using the funding to redevelop its main site on Dallamires Lane by adding two new buildings.

These will allow the company to increase its services to the public, including its paint and body shop which uses state-of-the-art equipment to analyse and repair vehicles. The buildings also provide additional space for its agricultural parts and sales.

The funding package includes £3.5m which will go towards the new premises and £1.5m for working capital.

The company, which was founded in 1982, currently employs 184 people and turns over around £55m, but the new site will create 15 new jobs and is expected to boost turnover by 5 per cent over the next year.

Finance director Nick Riley said the funding would take the company “to the next level”, and added: “The new buildings will allow us to increase the services we provide and has allowed us to put our growth plans into action.

“We look forward to the site’s completion in order to continue to provide an except-ional service to our customers.”

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