Jaymac Solutions Secures £2.2m From Lloyds to Double Turnover
The family-owned pallets and packaging business, which started at Team Valley in the 1990s, is opening a 30,000 sq ft warehouse in Washington.
- Lloyds funding includes a £1.52m loan and a £681,000 loan and asset finance facility.
- A new 30,000 sq ft Washington warehouse brings pallet and crate manufacturing in-house.
- The deal will create eight jobs.
Family-owned warehousing and packaging business Jaymac Solutions has secured a £2.2m funding package from Lloyds as it pursues a plan to double turnover over the next five years.
The package includes a £1.52m loan and a £681,000 business loan and asset finance facility, and will lead to eight new jobs.
Bringing manufacturing in-house
The money will support a new 30,000 sq ft warehouse next to the company’s existing Washington operation, which recycles and repairs between 12,000 and 15,000 pallets a week. The new site will let Jaymac manufacture timber pallets and crates for export customers itself.
Part of the funding is going into heat-treatment capability, so the business can manufacture, heat treat and store pallets in one place.
From Team Valley to six sites
Jaymac began in the 1990s supplying pallets to fruit and vegetable traders from a unit at Team Valley. It now runs six sites across the region, including Gateshead, Newcastle, Washington, Faverdale near Darlington and Teesside Airport, where it moved earlier this year to serve the air freight industry.
Managing director Wes Thompson said the company had grown “through relationships”, with conversations about pallets turning into work on packaging, storage, transport and returns.
