BIBBY Financial Services (BFS) has provided a £9m group funding facility to support the re-finance of Currie European Transport Ltd, a transport and storage solutions group made up of seven trading companies across Scotland, England, the Netherlands and France.
The group, which is headquartered in Dumfries, Scotland, is using the funding to support an ambitious acquisition led growth strategy.
The funding included a £1.5 million CID facility to support the acquisition of Laser Transport International Ltd, a haulage company based in Kent with a turnover of £18m, bringing the Group’s total turnover to £75m.
The facility has already allowed the successful acquisition of Laser Transport International Ltd, and the increased working capital will support Currie Group’s continued growth plans across the UK and Europe.
Stephen Turner, Currie European Transport Group managing director, said: “BFS managed to conclude a deal in just eight weeks, even though it involved seven companies and four countries.
“We are excited about the acquisition of Laser Transport, and the facility we have in place will allow us to continue to grow”.
Ronnie Stokes, Bibby Financial Services corporate manager, said: “Arranging a deal in eight weeks, across seven companies and four countries was never going to be easy but speed of delivery is vital for UK businesses looking to grow once again.
“This partnership is hopefully just the start, and we can’t wait to see what Stephen and the team at Currie Group turn their ambition to next.”