STG secures £1.5m Yorkshire Bank deal

David McCourt

Strategic Team Group has negotiated a new banking deal with its incumbent provider, Yorkshire Bank, providing an additional £1.5m of working capital to support continued growth.

The Castleford-based construction and property services provider increased turnover from £36.52m in 2010 to £54.57m in 2012.

The shareholders and board of directors believe there are opportunities in market sectors including social and affordable housing, transport, education, care and health and renewable energy, which will allow for further sustainable growth over the next three to five years.

To deliver its strategic growth plan the board of directors and senior management team has been restructured to support delivery in each sector and service line. There are also new roles and responsibilities within the commercial, financial, business development and operational teams.

Andrew Watson, Strategic Team Group's managing director, said: "We now have the resources and personnel in place to take the next steps in our ambitious growth plans."

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