Barclays PLC : GRITIT invests in fleet to support expansion plans with funding from Barclays Corporate

GRITIT, the first company in the UK to specialise in winter gritting and snow clearance has secured a £700,000 asset finance and working capital facility from Barclays Corporate.

The company, which was named recently 37th in The Times Fast Track 100, with an 83% increase in sales in 2011, has used the new funding to invest in 30 new vehicles and gritting trailers, bringing its fleet up to 150, located in 92 strategic depots across Scotland, the Midlands, North, South West, South East and now Northern Ireland as part of the firm's recent expansion plans.

The investment follows a number of new contract wins and a growing client portfolio.

GRITIT's Managing Director, Alastair Kight said: "Every year the UK faces tough challenges when dealing with unpredictable winter weather, and by understanding the issues our clients face, we have introduced innovative solutions that help organisations and government departments take the necessary action required to keep their properties operational, safe and accessible, and at the same time avoiding overspend and the negative impact weather conditions can have on other essential services."

Mr Kight continued: "To be the first company in our sector to be recognised in the prestigious Sunday Times Virgin Fast Track 100 is an incredible achievement. This reinforces our belief in business in the UK, and supports our plans for the future growth of the company. We have committed to investing over £4m and will look to create in excess of 265 new jobs in the UK and Northern Ireland in the next few years. We could not do this without the continued backing of Barclays and as a small but rapidly growing business we have really benefitted from their support over the last few years"

The business, which was founded in 2004, uses cutting-edge technology to accurately predict the weather and track its 300 operators in the field. So when the temperature drops to zero degrees or snow is forecast, the GRITIT team sets to work gritting and manually clearing snow from thousands of hospitals, universities and major corporates, keeping car parks and premises safe, open and businesses operational even during the worst conditions.

Matt Benham Financial Director at GRITIT added: "At a time when access to funding is difficult for small businesses, Barclays have been fantastic in ensuring the correct support and financial facilities are available to enable continued investment into the UK and aid the growth strategy of the business. In Northern Ireland, where we have just launched, we are investing over £1m and looking to create more than 80 new employment opportunities in the next few years. We could not do this without the continued support of Barclays."

Jonathan Cooley Relationship Director at Barclays Corporate in Basingstoke said: "GRITIT is a great example of an innovative British business which has prospered during the economic downturn. The company has enjoyed tremendous success over a relatively short period of time and secured jobs at a challenging time for the economy".

About Barclays Corporate

With a clear focus on quality relationships, Barclays Corporate provides integrated banking solutions to businesses with an annual turnover of more than £5 million in the UK and large local companies, financial institutions and multinationals in non-UK markets. We facilitate the success and growth of our clients by providing lending, risk management, cash and liquidity management, trade finance and asset and sales financing. Additionally, our clients benefit from the breadth of the Barclays Group, through access to the investment banking services of Barclays Capital including debt and equity capital markets, the private wealth management expertise of Barclays Wealth, and the card and payment services of Barclaycard. Barclays Corporate employs over 10,000 people globally. For more information please visit .

About Barclays

Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 145,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide. For further information about Barclays, please visit our website .