Hire & Supplies Ltd has stores in Dumfries and Oban, as well as a significant online presence providing everything from excavators and dumpers to hand tools and workwear, with delivery UK-wide.
It no sees a gap in the market in Cumbria that it plans to move into.
As well as the hire side of the business, the business also provides power tools, garden machinery and engineering equipment.
The business, which was founded in 2014 and now has 40 employees, has secured a 拢2.52m asset refinance, facilitated by Greater Manchester-based PMD Business Finance and financed by Praetura Asset Finance
聽The transaction has enabled the company to refinance more than 250 assets across 160 hire purchase agreements, reducing its monthly debt commitments and enabling the business to focus on its growth strategy.
David Chandler, director of Hire & Supplies, said: 鈥淭his refinancing deal frees up significant cash that we will use to grow the business, specifically opening a bricks and mortar centre in Cumbria where our sales have been steadily growing in recent years.
鈥淭丑别 plant hire sector in Cumbria has seen some upheaval with some competitors leaving or scaling back in the region. We believe there is a gap in the market for a firm like ours, particularly as the economic conditions will lead more businesses to hire in equipment than to buy it.
鈥淥ur business model is based on providing a true one-stop shop as we stock everything that鈥檚 on our website, rather than sourcing from other suppliers. We aim to give people what they want with the service level they expect.鈥�
Got a story? Email news@theconstructionindex.co.uk
