Telecoms firm Pennine Telecom, whose clients include British Nuclear Group and Blackpool Borough Council, has secured £750,000 from Royal Bank of Scotland to back its future expansion plans.

Telecoms firm Pennine Telecom, whose clients include British Nuclear Group and Blackpool Borough Council, has secured £750,000 from Royal Bank of Scotland to back its future expansion plans.

The Bury-based company specialises in supplying, installing and maintaining telephones, wireless networks to provide internet access, and radio systems.

Pennine Telecom was bought by a management team led by Andrew Roberts in 2003 and has a £6.2 million turnover. Roberts said: “As we take on more work, it’s essential to have the necessary funding in place.”

Corporate solicitor Shahid Azam from Clough & Willis was instructed by Royal Bank of Scotland to oversee the financial assistance documentation, ensuring that the necessary procedures under the Companies Act 1985 were complied with, and that the security in favour of RRBS was properly registered at Companies House accordingly.

Thompson Jones LLP, which had previously advised the management team on the 2003 buy-out, was engaged to assist in securing Pennine’s new banking facility.

John Stone, who led the team providing financial assistance, commented: “We are extremely pleased to see Pennine’s continued success and are proud to be part of its advisory team.” n