Steve Wright Lifting Limited (SWL), the lifting equipment service provider, announced today that it has plans to expand the business following the securing of a multi-million pound refinancing package which involved the buy-out of two exiting shareholders and the issue of new shares to the management team.

SWL was formed in 1989 and moved into its own purpose built facilities at Nauta House, Oldmeldrum in 1992. The company operates under the trade name of Red Rooster and specialises in the sale, repair and rental of powered hoists, winches and load measuring equipment, primarily to other lifting equipment companies throughout the UK. SWL’s product range is one of the most comprehensive available, covering a wide span of power, configuration and load capacity options, and are tried and tested in some of the most demanding applications in industry.

Following the refinancing, the management team plans to grow the business by providing services complimentary to those already provided and by expanding the company’s rental fleet.

The management team now comprises Steve Wright, co-founder of SWL, Bill Aitken, Managing Director, Margaret Gibb, Finance Director and John Evans, Sales Director. The company plans to expand its workforce over the next few years.

Steve Wright commented: “We believe that SWL is well positioned to achieve significant growth in the lifting equipment services market, and, the level of experience that has been gained in both the onshore and offshore markets, coupled with the refinancing package which will allow us to invest heavily in capital expenditure, means that it is an exciting time for the development of SWL.”