Derbyshire-based specialist contractor Cawarden has added a Komatsu high reach demolition excavator to its equipment portfolio, thanks to fresh funding from Paragon Bank.
Based in Derby and a provider of demolition, land remediation, earthworks, civils and groundworks project services throughout the UK, Cawarden secured over half a million pounds to acquire a PC490HRD-11.
The new funding agreement is the latest in a series between Cawarden and Paragon’s SME Lending division, which has seen the two firms work together for over two decades.
Founded over 35 years ago by William Crooks, Cawarden today employs 120 people and has a turnover of £22 million. It provides clients with an integrated ‘destruction to construction’ solution, allowing them to deal with only one delivery contractor.
Terry Lloyd, Head of Construction at Paragon, has worked closely with William Crooks throughout Cawarden’s commercial relationship with Paragon - which now totals funding of over £10 million.
Commenting on the latest funding agreement between Paragon and Cawarden, Terry Lloyd said: “Building close partnerships with businesses is key to what we do. By listening to our clients, understanding their needs, and then providing funding solutions that work for them has allowed us to build our reputation in the sector as a trusted financial partner.
“I’m delighted that we were able to put this experience and expertise to excellent use with our latest funding arrangement with Cawarden.”
He continued: “For our economy to thrive it is vital that fantastic firms such as Cawarden can access the funding they need to ensure they continue to grow and deliver essential services. Without the construction and demolition sector, our country would grind to a halt – and I am proud of the work Paragon does in keeping it moving.”
Commenting on Paragon’s funding support for Cawarden, William Crooks said: “Providing our clients with the highest standard of service is central to our business, and with the addition of a Komatsu PC490HRD-11 to our industry-leading equipment portfolio we will continue to keep doing so in the years ahead.”
He continued: “Working with Terry and the team at Paragon has been an invaluable driver of our growth as a business. Thanks to their commitment to understanding our operations and providing funding solutions that are tailored to our requirements, we’ve been able to develop a partnership that will continue to benefit Cawarden and our clients for years to come.”
For further information contact:
Tom Frew
Media Relations Manager
Paragon
E: [email protected]
www.paragonbank.co.uk
Notes to editors:
Paragon Bank PLC a subsidiary of the Paragon Banking Group PLC which is a FTSE 250 company based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group PLC has over £13 billion of assets under management and manages over 450,000 customer accounts.
Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551.