Glasgow-based strapping and tools firm Reid Brothers International is to expand into larger premises with help from six-figure financing from part of the Tata Steel group.
The loan which will also fund new equipment was secured from UK Steel Enterprise (UKSE), a subsidiary of the Indian giant. Reid Brothers supplies clients worldwide with strapping, banding and load-securing systems. It produces tools, including clamping solutions, cable-pulling equipment and sign-mounting hardware.
The 150-year-old company is moving within Ibrox Business Park and its new premises will allow it to increase staff numbers by 30%. It has grown through oil and gas-related business in recent years.
Reid Brothers previously received six-figure funding from UKSE in 2015 to back a management buyout.
Danny Rooney, managing director at Reid Brothers International, said: “We are very grateful for the help UKSE has given us over the years. We wouldn’t be in the position to expand if it wasn’t for their continued support.
“I’m very excited for what the future holds for Reid Brothers. This is a big step in the right direction for the firm and we look forward to our upcoming move where we can continue our hard work.”
Scott Webb, regional executive at UKSE, said: “We have been very impressed by Reid Brothers over the years and following the management buyout in 2015, the firm has gone from strength to strength. It’s a very exciting time for the business and we’re looking forward to seeing what the future holds for the firm.”
