Case Studies
Crane specialits aim for towering performance
A Norfolk-based construction specialist is on target to double its turnover in the next ten years and open a number of new offices thanks to the continuing construction boom.
Falcon Crane Hire specialises in the hire and sale of tower cranes to building sites across the UK and major projects around the world.
Established in 1982, it has developed from a £120,000 turnover business to the second biggest crane hire company in the UK - employing 290 people and turning over £15 million.
Now the company plans to continue its expansion through organic growth and strategic acquisitions. The strategy could see the business' turnover double to £30 million in the next ten years and the creation of a significant number of new jobs.
Falcon Crane Hire is set to invest in new crane technology and is looking to expand its geographical coverage by opening offices in the South West and Scotland.
The firm has secured the financial backing of Lloyds TSB Commercial Finance, which is helping fund the growth by providing asset based lending facilities to release the cash tied up in the business and to purchase more cranes.
Over the past five years the company has benefited from the house-building boom and the Government's firm commitment to major health and education building programmes.
It has forged strong links with construction giants such as Barratt, Bovis and Belway who require a range of sophisticated cranes to match a variety of site requirements.
The equipment ranges from lifting tackle to giant cranes that stand 150 metres tall and that lift 3.5 tonnes over 85 metres.
The business also provides teams of expert technicians to install, maintain and remove cranes as well as providing advice on correct usage.
Doug Genge, managing director of Falcon Crane Hire, said: "Over the last twenty years we have had to adapt to rapidly changing market conditions and meet the specialised needs of a broad customer base.
"We now plan to realise the business' full potential by expanding our coverage across the UK and by continuing to build-up our experienced team of expert technicians.
"The facilities that Lloyds TSB Commercial Finance has put in place will give us the flexibility to move quickly and develop new opportunities when they arise."
Bob Richards, senior regional manager at Lloyds TSB Commercial Finance said: "The potential for Falcon's growth is staggering. The construction industry is worth well over £60 billion in the UK alone and as major companies look to for continuous improvement to drive efficiencies, demand for expertise and quality service will continue to rise.
"Lloyds TSB Commercial Finance will provide the asset based lending facilities necessary for Falcon to maximise growth whilst still retaining strong control over the business."
Lloyds TSB Commercial Finance is part of the Lloyds TSB Group plc.
Lloyds TSB Commercial Finance is part of the Lloyds TSB Group plc.
