Imperial Automotive on road to growth with refinancing deal
IMPERIAL Automotive is looking to execute its growth plans with the backing of a new funding package.
Imperial Automotive, based in Doncaster, is the largest importer and distributor of crash repair parts in the UK.
It said a new partnership with Barclays will assist with its strategic growth plans, and that the funding will provide working capital enabling the business to plan with confidence going forward.
Managing director Kevin Shipton said: “Working with Barclays will allow us to consolidate and build on the significant growth our business has seen in recent years and we look forward to building a long term partnership.”
The company now employs over 160 staff and expects a turnover of £15m for 2013.
Alastair Watson, relationship director at Barclays, said: “We’ve been in dialogue with Kevin and his team for some time and it’s great to see the completion of the transfer of their business to Barclays.
“The business is a real success story for the local economy and it’s fantastic to see a business investing in growth and taking advantage of the current climate when many businesses are holding back in these uncertain times.”