Solent Stevedores invests in million pound equipment with support from Lloyds Bank
Port and rail terminal operator, Solent Stevedores has invested in state-of-the-art equipment to help accelerate its future growth with the support of a seven-figure finance package from Lloyds Bank.
The investment has enabled the Southampton-based business to upgrade 10 tractor units and three reach stackers in response to demand from its customers to increase the transport of goods by rail as it continues to expand its operations at the rail terminal in the Port of Southampton.
The company facilitates the safe and efficient movement of goods in seven locations in the UK, Channel Islands, France and Singapore. The firm’s industry-leading cargo-handling, storage and logistics solutions support customers from a wide range of markets, including containers, dry bulk commodities, fresh produce and cruise liners.
Established in 2000, Solent Stevedores has grown to generate annual revenue of over £30 million and support a workforce of over 200 employees across Southampton, Dursley, London, Immingham, Jersey and Singapore.
Stuart Cullen, executive chairman at Solent Stevedores, said: “We operate in a diverse portfolio of markets and locations and it’s important that we continue to invest in the latest equipment and technology to ensure that our operations continue to perform to the high standards our customers expect.
“Although the pandemic impacted our cruise operations in Southampton and Singapore, our ability to swiftly adapt and embrace new opportunities in the train freight industry has allowed us to continue our growth ambitions. With the support of our relationship director at Lloyds Bank, we were able to seamlessly upgrade our equipment which will help to drive our long-term plans.”
Laura Willoughby, relationship director at Lloyds Bank, added: “Stuart and his team have banked with us for over 25 years and we’re incredibly proud to have helped to support them through their sustained period of growth. Upgrading to the latest equipment will allow the business to continue to operate at a high level and further cement itself as a market leader in the provision of port services.”