The brothers behind a successful regional parcel delivery firm are expanding with the acquisition of a second franchise in the North.
After a period of rapid growth at their Interlink Express operation in Stockton, Glen and Steve Watson are expanding into Gateshead after buyingy the Interlink Express franchise depot there.
They have been helped in their plans by a funding deal of £240,000 from Barclays and have other financial resources of almost £100,000.
The duo have been based at Teesside Industrial Estate for more than 16 years, taking over the business which was previously run by their parents.
They have bought the franchise at Drum Industrial Estate, Birtley, together with a fleet of new vehicles.
Steven Watson said: “Taking over the Gateshead operation was a very proud day for the family and we’re delighted that we can continue with our growth plans to serve the North East.
“Operating in both the north and south of the region means we now have great coverage across the North East and we are planning to double our turnover as we continue to do business with new and existing customers.”
Brother Glen added: “This time next year we expect to have undertaken further relocation.
“We’re turning over roughly £1m at the moment and we hope to grow that to £1,25m, again by this time next year – we’ve been growing at a rapid rate but you never know what will happen in the future.”
Interlink Express employs more than 40 staff across the two depots and the Watsons believe their new fleet of 17 vehicles is among the safest, most efficient and environmentally friendly in the industry.
Michael Hendry, business banking manager at Barclays, put together the funding package for the deal.
He said: “It’s great to see a business investing for the future, creating employment for the North East and contributing to the local economy.
“Steve and Glen operate a forward-thinking family business and as longstanding customers, we were delighted to be able to support their growth plans. The future looks bright for this ambitious business.”