Acorn set to grow in a tough market

A FAILSWORTH roofing company is to employ nine more people this year — including one apprentice — and is on target to increase turnover by 30 per cent.

Established in 2005, Acorn Bespoke Roofing, at Boodle Fold Farm, Daisy Nook, provides tiling, felting and guttering services for private and public sector clients across the UK.

Working closely with Interserve Facilities Services, the company has completed a number of projects commissioned by the Government and has finished a contract to deliver two care home projects in Warrington.

The company is now starting to work on a 25-year contract to service the new generation of super schools.

One of only three North-West flat roofing specialists to be accredited by the Garland Company, a manufacturer of high performance roofing materials, Acorn Bespoke Roofing has also invested heavily in high-access equipment and a fleet of new vehicles to service the growing list of blue chip customers.

Despite the onset of a recession, the firm increased turnover by 40 per cent last year and doubled headcount to 22.

This expansion put pressure on cash flow and management approached Lloyds TSB Commercial. The bank extended the company’s overdraft facilities to boost working capital and also introduced Lloyds TSB Commercial Finance, the asset-based lending division.

With an increased level of working capital, the business is continuing to secure large contracts and is on target to boost turnover by 30 per cent this year.

The aim is to hire a further eight full-time employees during 2010 and continue to support at least one apprentice each year.

The firm has also launched a sister company, Padman Scaffolding. By offering complementary scaffolding services to Acorn’s established customer base, management is expecting the new company to achieve a £1 million turnover within its first five years.

Acorn managing director Walter Merriman said: “We’re currently operating in an extremely tough market but by focusing on refurbishment work rather than new build, we have been able to secure a number of sizeable contracts.

“Diversifying our operations by launching a sister company means we can capitalise on cross-selling opportunities with our well established customer relationships.

“We have a banking partner that understands our ambitions and was able to quickly provide us with a tailored funding solution.”

June Ainscough, relationship manager for Lloyds TSB Commercial, said: “Acorn Bespoke Roofing is a great example of a niche business that has thrived over the last 18 months, despite operating in one of the sectors worst-hit by the recession.”