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Bristol refrigeration company secures £2 million of funding

Woman taking food from fridge

Bristol-based engineering company, A1 Engineering Solutions, has secured £2 million in funding through the Coronavirus Business Interruption Loan Scheme (CBILS) and through an HSBC loan to help it carry on providing service and repair for their customers.

A1 Engineering Solutions is based in the Bristol & Bath Science Park and provides refrigeration services to large supermarkets and other businesses requiring food refrigeration.

The company has more than 30 years of experience in manufacturing, installing and maintaining environmentally-friendly refrigeration, air conditioning, heating, and other mechanical and electrical services.

With grocery shopping at an all-time high, the company saw an increase in demand for service and repair, especially where food retailers were concerned.

The total cash boost is made up of £1.1 million from the CBILS and the remainder came from an HSBC working capital loan.

We’ve been working with HSBC UK for the last 18 years and in that time, the team has always been on hand to support our ambitious growth plans.

This latest round of funding is no exception. Not only has it allowed us to continue operating critical parts of our business, but it means we’re in a strong financial position when things return to normal, allowing us to re-open workstreams that have been closed due to the coronavirus.

Dean Frost, Managing Director, A1 Engineering Solutions Limited

A1 Engineering has enjoyed rapid turnover growth from £10m in 2016 to a projected £33m in 2020.

Our funding, put in place by relationship director, Henry Moore, has allowed essential food retailers to call on A1 for much-needed repairs during a time of crisis, crucially with limited disruption to their business.

We’re pleased to have given the business the certainty it needed to continue supporting its clients.

James Shepherd, head of corporate banking, Bristol, Wiltshire & Gloucestershire, HSBC UK

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