Chepstow Plant International secures multi-million pound finance package to help grow business and attract new customers.<\/p>\n
Number of new jobs expected over next six months.<\/p>\n
A family business that supplies mobile plant equipment to businesses across the UK has acquired a 100-strong fleet of Volvo machinery with the support of a multi-million pound uplift on its existing finance facility from HSBC.\u00a0 Chepstow Plant International, a privately owned company based in South Wales, has just taken delivery of the final pieces of equipment – which includes excavators, loading shovels and dump trucks \u2013 adding to the company\u2019s fleet of 400+ items of heavy plant equipment. This is in addition to the 300+ ancillary units that support the fleet. The firm, which has banked with HSBC since its inception in 1995, increased its existing asset finance facility to purchase the new equipment and has been drawing down on the funds over the last six months as each tranche of machinery was delivered.<\/p>\n
The company\u2019s recent expansion has seen 25 new members of staff join in the last six months, with further plans in place to recruit over the next six months.<\/p>\n
Warren Lewis, HSBC\u2019s Head of Corporate Banking in Wales, said: \u201cHSBC has been banking Chepstow Plant International and other businesses also owned by the Hayward family for more than 50 years, so we have a thorough understanding of the industry and the company\u2019s evolving finance requirements. This latest round of funding will help the business with its ambitious growth plans and expand its customer base as it refreshes its fleet with the newest and most modern machinery.\u201d<\/p>\n
Ed Hayward, Finance Manager at Chepstow Plant International, commented: \u201cOur long-standing relationship with HSBC has meant we\u2019ve increasingly turned to the bank to support our continued expansion plans.\u00a0 Acquiring this latest fleet of machinery means we\u2019re better able to service our existing clients and sign new contracts with businesses all over the UK. The increased funding package from HSBC will help us move into new markets and expand in these territories.\u201d<\/p>\n
Chepstow Plant International is part of a privately-owned business with more than 50 years\u2019 trading experience in the plant industry, servicing industries including quarrying, steelworks, power stations and earthworks As well as hiring equipment to their clients, the company also sells used machinery to businesses across the world.<\/p>\n","protected":false},"excerpt":{"rendered":"