Construction contractor lands £1.5m finance deal
Three Shires, the Leicestershire contractor to the construction industry, has landed a £1.5m funding deal with finance firm ThinCats.
Founded over 25 years ago, Three Shires provides specialist contracting services to the rail, utilities, highways, construction and civil infrastructure sectors. The firm also has offices on the Wirral, South Wales and in Dorset.
Three Shires was introduced to ThinCats by Alasdair McPherson of Rangewell, London-based business finance specialists.
James Lloyd, managing director at Three Shires, said: “We are best known as a specialist ecological contractor and we are very proud of the service that we offer. The demands and requirements of the sector have evolved hugely over the years, and we have always strived to be ahead of the needs of our clients, providing eco-friendly services to enable them to be as environmentally conscious as possible. This funding will help us to continue with our targeted development.”
McPherson added: “Three Shires first approached Rangewell looking to refinance away from a lender that didn’t really understand their business model and was constraining their ability to grow. Rangewell’s RAMP (Rapid Algorithmic Matching Platform) Technology very quickly identified 11 lenders that could provide more appropriate and affordable finance versus the current lender’s offering and having worked with ThinCats on complex transactions a number of times during the last 12 months, we knew their knowledge of the sector and speed of Due Diligence would provide the results that Three Shires required.”
Dave Sherrington, regional head of sales, London, ThinCats said: “James and his team have an excellent reputation in a niche market, and one on which the focus is ever increasing. They provide a very important, and growing, service to a large number of big players in the construction industry, and we are very pleased to have been able to support them in their progression.”