Construction firm Chap Group is preparing to accelerate its expansion plans after signing a £20million finance deal with Santander.
The Westhill-based company – which has divisions covering civil engineering, commercial property, house building and quarrying – switched to its new lender from Clydesdale Bank.
Chap, which employs about 200 staff and turns over around £45million a year, said that it is focusing on development opportunities and land acquisitions for residential and commercial projects.
Hugh Craigie, joint managing director, said: “The agreement with Santander is important as we plan for the future.
“It is the foundation upon which we can build our strategy across all of the divisions.”
Mr Craigie added: “One of our key aims is to expand our development pipeline and, having bolstered our team with that objective in mind, we are actively pursuing sites across the region.
“With Chap Homes successfully operating as far north as Inverness, our geographical reach is considerable – although Aberdeen and the north-east will remain at the heart of the business.”
In August, Chap Homes hired Bob Beattie as its land director, following on from the appointment of Iain Doig as the homes division’s director.
Mr Beattie spent 15 years as land director at Bancon Developments, the company with which Chap is developing a site at Milltimber on Royal Deeside for the over-55s.
Other housing projects being undertaken by the house builder include Leachkin Hill in Inverness and Clover Way at Longside in Aberdeenshire.
In October, Chap Group revealed that it had won a £4million contract to refurbish the Central Building for the University of Aberdeen and a £3million social housing deal with Langstane Housing Association.
Chap was founded in 1976 by Alasdair Craigie, Ian Harper, Frank Anderson and Ian Philip, with the initial of each man’s surname giving the group its name.
The group is still owned by members of their families.
Mr Craigie said: “The announcement of the new facility represents the first change of banking provider in our 38 year history and we view it as a very positive step forward.
“We are delighted to be working with Santander as we look ahead to exciting opportunities for Chap.”
He added: “The business has successfully diversified and our commitment is to remain at the forefront of every sector in which we operate.
“Consistency and continuity have been key strengths and will continue to be important as we drive forward, but we are prepared to innovate and evolve.”
Jamie Ritchie, senior relationship director of Santander Corporate and Commercial Banking, said: “The Chap Group is set to embark on an exciting period of growth, and we are delighted that the management team has chosen to partner with Santander to help the company realise its aspirations.”