The Rotherham-based company plans to use the finance to bid for larger, and a greater number of, projects, having seen demand pick up for its core trade products of dry wall, ceilings, partitions, flooring and joinery.
Horbury Group, founded in 1993, has three principle subsidiaries – Horbury Building Systems, Titan Interiors Solutions and MWS Joinery. Group turnover is more than £50m. Recent projects include the Co-operative Group headquarters in Manchester and Reading railway station.
Founder and chief executive Trevor Wragg said: “We identified a number of growth opportunities as part of a recent strategic review and this funding will enable us to pursue these. The construction market certainly went through some difficult times but it has strengthened in recent months and confidence appears to have returned. We opened two new offices last year, in London and the southwest, to meet clients’ needs in those markets and we are confident of continued growth this year.”
HSBC’s deputy head of corporate for the Yorkshire region, Mike Swift, added: “Successful mid-market companies such as Horbury Group are vital in driving the Yorkshire, and wider UK economy, forward, particularly in a sector such as construction. The company showed strong management and resilience during the downturn and is now demonstrating its ambition with its growth strategy.”