Newport equipment supplier looks to build on excellent first year
A company set up in March 2014 by an ambitious Newport
businessman has utilised a £150,000 loan from Finance Wales to grow
the business and achieve an annual turnover of more than double its
Altraxx Plant Services (Altraxx), which supplies heavy
construction equipment to companies in a range of sectors, used
Finance Wales’ loan to build up its hire fleet, purchase stock and
invest in specialist equipment for export.
A successful first year has seen Altraxx take on 1 new member of
staff as well as 4 sub-contractors at its base in Newport
Altraxx has quickly become known for supplying high-quality used
plant and equipment such as bulldozers, excavators, loaders and
material handlers manufactured by well-known names such as Atlas,
Caterpillar, Komatsu and JCB for sale or hire.
Before starting his own business, Altraxx’s Managing Director, Al
Preece-Jones was General Manager at Chepstow Plant Services which
he believes has contributed to Altraxx’s success in its first year
and helped lay the foundations for long-term growth.
“The demand for high-quality plant and equipment for sale, short
and long-term hire is growing, both in the UK and overseas.
From the outset, it was important for us to establish a reputation
for being able to source the equipment our customers need either
from stock or through our industry contacts.
“Finance Wales’ backing has enabled us to establish our sales
and hire businesses in our first year and both have exceeded our
expectations. This has given us the confidence to move
forward and we’re already looking to widen Altraxx’s reach by
increasing the range of plant and equipment we stock,” he
Altraxx supplies customers in the construction, infrastructure,
quarrying, recycling and materials recovery sectors as well as to
port and docks operations and regularly exports to key markets in
Europe, Australia, Africa and parts of Asia.
Finance Wales Investment Executive, Oliver Jenkins worked with Al
to structure a loan that would provide the fledgling company with
the best chance of success.
Commenting on Altraxx’s successful first year, he said: “Altraxx
has had an impressive first year and is a young company making its
mark in a demanding, quality-conscious international market.
Its customers continue to be impressed by its ability to source and
provide quality machines.
“Al has a great deal of industry knowledge and experience
coupled with a strong track record. He’s paid attention to
building Altraxx’s customer base and establishing the company’s
market niche. Finance Wales provided Al with the capital he
needed at a critical time in Altraxx’s development, enabling him to
put his growth plans into action.”
Recent figures show the global market for heavy construction
equipment is expected to grow by over $160 billion between 2015 to