Williams Group secures £20m refinance
MANCHESTER motor dealer the Williams Group has secured a £20m refinancing with Barclays Bank after switching from the Royal Bank of Scotland (RBS).
Barclays Corporate said it had provided a package of facilities to the BMW dealer which operates 10 showrooms across the North West and employs 600 staff.
Managing director Nick Cook said: “Barclays Corporate has been very supportive of our requirements and will play an integral part in our plans for future growth. I have been impressed by their holistic approach which demonstrated a clear understanding of our business and our positioning within the retail sector.
“With the new financial structure in place, we intend to be pro-active in taking advantage of the opportunities the current climate presents.”
The deal was arranged by Barclays Corporate in Manchester and led by relationship director for retail and wholesale Jane Khaliq and business development director Mark Sheldon.
Ms Khaliq said: “Our sector focus and thorough understanding of the industry and market has enabled us to structure a refinance solution that fits well with the Williams Group’s strategic plans and we look forward to helping the company expand and grow.”
The business was founded in 1909 as the Williams Wheelwright Works, a repairer of horse-drawn vehicles for London and North Western Railways.
