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ROCKCASTLE SCALES NEW HEIGHTS WITH GROWTH LOAN FUND SUPPORT

Belfast and Swords-based specialized construction firm Rockcastle Ltd. has secured a six figure loan from the Growth Loan Fund to purchase new equipment that will support the company’s expansion plans and create eight new jobs.

Finance for the £50m Growth Loan Fund – which provides loans to established Northern Ireland SMEs seeking to access growth finance – has been provided by Invest Northern Ireland and private investors, Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC).

Rockcastle Ltd. which trades as AER Access and Raineys was formed in 2004 and provides specialist services to the building and construction sector.  These services include conservation and restoration of historical buildings, high access solutions using mastclimbers, hoists and rope access and installation of K Guard edge protection systems. The company currently employs 45 staff and has offices in Belfast and Swords.

Mark Glover, Managing Director at Rockcastle Ltd., commented: “With the support of the Growth Loan Fund we have been able to purchase new equipment such as mast climbers and hoists.  This new equipment means we can take on more contracts and continue to strengthen our position in the construction sector."

“A large percentage of our work is in Dublin, with around 35 per cent of work taking place in Belfast.  We also have a market presence in Great Britain, having recently completed work in London, Brighton and Kilmarnock." 

“We’re working with all the big names in the construction sector, including Grahams, McAleer & Rushe and Sisk, on projects such as Windsor House, City Quays 2 and Capital Dock in Dublin, providing access solutions with mast climbers, hoists and edge protection.” 

“The services we offer from our office in Swords is slightly different. The company recently completed the restoration of St. Saviours Church in Waterford and we are currently working on numerous restoration projects throughout Ireland. We recently won a major roofing contract with the HSE in Dublin to maintain their various properties. We are also the preferred roofing contractor for most of the major shopping centres throughout Ireland. Along with the restoration and roofing services, the company also installs lightning protection systems,” he added.

Looking ahead Mr Glover said: “Over the next year we want to conserve our place as a market leader.  Our turnover is set to double in the next twelve months and we’ll be taking on more staff to be able to meet the demand for our specialized services.  We also have a number of R&D projects underway so it is a very exciting time for the company.”

Andrew Gowdy, Senior Portfolio Manager at WhiteRock Capital Partners, commented: “Mark and his team have diversified their business offering to become a leading player in the construction sector.  Working with Ireland’s leading contractors, Rockcastle Ltd. is involved with the creation of a number of new landmark buildings around Belfast."

“The company has a strong foothold in the Dublin market and continues to show strong potential for growth right across Great Britain and Ireland.”

WhiteRock Capital Partners LLP, which is authorised and regulated by the FCA, was established in 2012 to manage the Fund and is owned by a consortium of three partners – WhiteRock Finance Limited, NEL Fund Managers and Clarendon Fund Managers.

Companies seeking funding from the Growth Loan Fund must be based in Northern Ireland, demonstrating growth and generally be in the manufacturing, engineering or tradable services sectors.  Loans will be typically unsecured and personal guarantees will not be sought.

The loans provided are expected to be complementary to existing sources of finance, including banks, trade finance sources and equity investors.  Loans are provided on a fully commercial basis, with monthly loan repayments required over typically a five-year term. 

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Published: 4/4/2017


Growth Loan Fund