The specialist bank will inject funds into Material Applications Ltd (MA Steel), which was established in 1956 and specialises in construction projects across the UK.
The company also offers clients an end-to-end service spanning consultancy, design and installation services on site and acquired Henry Smith Constructional Engineers Ltd in early 2015.
It currently has 46 staff, many of whom have over 30 years of experience in the structural steel business.
MA Steel has been forecast to make a turnover of £7m over the next 12 months.
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“Material Applications Ltd is an ambitious company and ever since we were introduced to the business, we knew that we very much wanted to help reach its business goals and potential,” said Karen Allen, head of specialist finance at Aldermore.
“We have a strong working relationship and we’re delighted to be able to provide MA Steel with the support needed to ensure its continued success throughout 2017 and beyond.”
Gerard Kitching, managing director at MA Steel, added: “We are a major player in the steel industry.
“However, over the last two years we have been acutely aware that we needed an injection of cash to reach the next level in our growth.
“As we pride ourselves on our personal and collaborative approach with our own customers, we wanted a finance partner with a similar ethos.”
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