Power tool wholesaler meets increasing demand with revolutionary new machinery
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Toolstream is a Yeovil-based power tool supplier established over 15 years ago, that sells over 5000 types of branded hand tools, power tools, fixings and adhesives. Its customer range includes Amazon, Toolstation and Screwfix. With a large team of over 160 employees and distribution across the UK and Europe, Toolstream is recognised as one of the major players in the sale of trade hand tools.
What did they want to achieve?
After a period of huge growth, it came to Toolstream’s attention that increased demand could be met with the installation of a LogiMAT conveyor system, which would improve the product distribution process. Having worked with Lombard in the past, the Financial Accountant John Soughton approached us for support.
How we helped
Paul Tregale, a Lombard Relationship Director and his team were able to cover the complete purchase price of £1.9m for the LogiMAT automation equipment, as well as a subsequent £30.5m of building costs associated with the installation of the equipment.
" Now that we have concluded this project, Toolstream has developed a very strong business partner in Lombard."
Financial Accountant, Toolstream
The funding has allowed Toolstream the flexibility it needed to relieve pressure on and improve its distribution processes. The LogiMAT conveyor system now plays a vital role in Toolstream’s processes.
Built a long-lasting relationship with us that gives them confidence in financing future purchases.
We provided both equipment cost and subsequent £500k building installation costs.
Able to maintain its position at the forefront of the power tool supply sector for further future growth.