ELECTRICAL wholesaler Kew Electrical is aiming to open two new branches a year following strong sales growth and a £16m support package from Lloyds Bank Commercial Banking.

The business is based in Brighton and also has branches in Billingshurst, Chichester, Haywards Heath and Rustington amongst its 25 stores.

It sells products to the trade and direct to consumers and is kickstarting an ambitious growth strategy.

The expansion programme is being launched after Kew Electrical secured a £16 million invoice finance facility from Lloyds Bank.

The firm is also considering acquisition opportunities as it seeks to grow its geographic footprint.

The business has an annual turnover of £78 million, which increased by 14.4 per cent last year.

This is forecast to rise to £85 million by next year.

The company was launched in 1996 by managing director Geoff Kerly and now employs a team of 341.

Mr Kerly said: “We’re committed to growing our branch network across the UK and sharing the team’s expertise with a wider audience.

“We’ve enjoyed strong growth over the past year due to rising demand for new houses, which is delivering a great boost to tradesman across the region, and in turn, our business.

“It’s an exciting time for Kew Electrical.”