South Yorkshire Distributor Secures Funding From Barclays
Established in 2013, Tekfloor Limited is a national specialist distributor of building materials based in Rotherham. The business is run by owner directors Steve Foster and Adam Wiszniewski. Tekfloor offers next day delivery nationwide and has seen significant growth since it started.
Adam Wiszniewski, Finance Director, Tekfloor Limited said: “The business was started in 2013 because we felt that the UK screeding industry was being poorly served by existing distributors. Since then, we’ve been growing rapidly with the introduction of a full range of products, as well as a bespoke manufacturing capability. We have become a 24/7 organisation to meet the demands of our customers. In 2019 we secured a significant equity investment from UKSE, the investment subsidiary of Tata Steel, and this has allowed us to massively accelerate our ambitious growth plans.”
Steve Foster, Commercial Director for Tekfloor Limited added: “The new funding from Barclays will help support our expansion plans which include doubling our warehousing capacity and increasing our large and varied fleet of vehicles.”
Tekfloor Limited employ over 100 staff and turnover for 2021 exceeded £32million. Tekfloor was recently recognised in the ‘Yorkshire Fastest 50 Awards’ as one of the fifty best performing privately-owned companies which have consistently increased turnover over the past three financial years, whilst remaining profitable.
Matthew Chenery, Barclays Relationship Director put together the funding package for the deal and lifted their day to day banking to Barclays and said: “We are delighted to be mandated by Tekfloor as their future finance provider. Under the leadership of Adam and Steve the business has delivered tremendous growth which has seen the business almost double in size over the past two years. We have invested a lot of time to get to know the business and to build a strong relationship with the wider team and we are looking forward to a long and successful partnership, helping to bring their future plans to fruition.”