TJ cleans up with £5.5m growth investment package from HSBC
14 January 2016 | Tags: Company
TJ Waste & Recycling, part of TJ, has completed the purchase of a new waste transfer station in Portsmouth with funding from HSBC.
HSBC provided TJ with a £5.5m investment package to support the group’s ambitious growth plans.
TJ Waste & Recycling used part of this to purchase the waste transfer station and its equipment at a two-acre site on Quatremaine Road in Portsmouth, also creating eight new jobs once the station opens in April 2016.
John Gosling, Managing Director at TJ, said: “Unlike many other banks, HSBC has an appetite for our industry and are really enthusiastic about our growth plans.”
“As well as the new waste transfer station, there are plans in place for another site, new offices and a bigger fleet.”
“Anthony Reed and his team at HSBC are a pleasure to work with and have given us the confidence we need to expand.”
Anthony Reed, Area Director at HSBC in Hampshire, explained: “TJ has strong growth ambitions for the future with plans to double its turnover in the next 10 to 15 years.”
“The purchase of the new waste transfer station is a significant investment for the TJ, and we’re delighted to provide the funding which has made that possible.”
TJ Transport, another part of TJ, is also set to benefit from HSBC’s support. The haulage company currently operates in seven locations, including Wickham, Portsmouth, Southampton and most recently, Bristol.
It will use some of the funding from the bank to expand into new locations to grow its presence across the South of England.
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