The UK independent parcel network APC Overnight has recently completed the building of their new 138,000 square feet premises in Cannock and installed state-of-the-art sorting equipment following financial support from Barclays.
APC Overnight's new home will be at Kingswood Lakeside in Cannock and has cost £16.5 million to complete. The new sorting equipment, which will enable the business to more than double its capacity, has cost £3.5 million - £1.75 million of which has been provided by Barclays as an asset finance facility.
APC Overnight's decision to move to new premises follows record growth over recent years, culminating in the company posting £65.76 million turnover and a 30 per cent rise in pre-tax profits for the year 2011-2012.
Mark Fletcher, Finance Director, said: "We are very excited about the new premises and the installation of the bespoke sorting equipment. Barclays' confidence in our business with our track record and our ten year relationship speaks volumes. I am delighted that they are continuing to support us with our on-going expansion."
Commenting on the funding, John Tumelty, Director for Barclays Corporate Banking said: "APC Overnight has enjoyed tremendous growth since its inception. They have a clear strategic plan and a strong management team. By providing the finance for the latest sorting equipment, we are enabling the business to achieve their ambitious growth plans."
APC Overnight who were voted 'Business of the Year' in the Express and Star's 2012 business awards, plan to be fully operational from their new site this summer.