Contact Transport – a logistics firm in Garretts Green – has received a £500,000 boost from Finance Birmingham.
The investment will allow the company to continue growing, following a 60 per cent increase in turnover to nearly £20 million in the last 12 months.
The funding will also ensure the firm can take on new contracts within the ‘final mile’ division – the last leg of a product’s journey before arriving with a customer.
The comapny already works for major clients including Amazon and UPS.
Formed in 1980, Contact Transport began as a small courier business for airline agents, delivering and collecting freight in and around Birmingham Airport.
The company added overnight parcel deliveries to its operations in the late 1990s and – with the rise of internet shopping – started working within the lucrative ‘final mile’ sector over the last decade.
It now offers a portfolio of services, including contract hire, logistics management, warehousing and haulage, operating up to 400 vehicles per day and employing 400 staff.
Managing director Neil Hughes said: “Finance Birmingham’s funding will enable the company to strengthen its offer by supporting existing jobs in the region, and adding a further eight direct posts – plus many more indirect roles – over the next three years.”
Contact Transport secured investment from the £9 million programme, managed by Finance Birmingham to support SMEs across the Greater Birmingham and Solihull LEP area.
Ian Fairclough, investment director at Finance Birmingham, said: ““We are backing a strong and experienced management team. The investment will support the significant growth of the business by funding the working capital requirement as the business continues to grow.”