GES target major growth in worldwide markets
Global Equipment Spares secure new £800,000 funding to support export sales strategy
DERRY-based Global Equipment Spares Ltd (GES), one of Northern Ireland’s leading manufacturers/suppliers of abrasive wear plates and special steels for the mining, construction and recycling industries, are targeting increased export-led growth following new funding of £800,000 from Santander Business Banking.
Established in 2010 by managing director John McClenaghan and sales director Barry O’Neill, GES had a record year in 2017 and are forecasting upwards of 50% revenue growth year-on-year for 2018. The business, and its wholly owned subsidiary Sharp Screening Products (SSP), currently employs 85 staff and plans to increase the number of employees as the firm expands internationally.
Northern Ireland is a recognized centre of excellence for mobile crushing machines, and GES are one of the leading firms in the sector and a significant contributor to the local economy.
With the new £800,000 funding from Santander Business Banking, in addition to £1.5 million in financing from the bank, GES are now targeting additional international trading opportunities, specifically in the US and Europe, and will be able to benefit from Santander’s extensive global network and their competitive online currency offering.
Barry O’Neill, sales director for GES, said: ‘With the support from Santander we will be able to expand further into international markets, in particular Germany and the US, and will be able to fulfil our growth aspirations by increasing our employment figures. The funding has also allowed us to free up cash flow while continuing to invest in plant equipment and R&D.’
Ryan Murphy, business relationship director for Santander Business Banking, added: ‘We are delighted to support Global Equipment Spares as they target international growth in the manufacturing sector.
‘We will be able to combine our country specialists, who have deep local knowledge of the markets, with our manufacturing sector experts to provide a solution to help GES expand internationally and exceed their ambitious growth targets.’
GES have a large number of manufacturing and engineering customers, including Terex, McCloskey International, Sandvik, Tesab Engineering, Astec Industries and Kleemann.
