Plant hire company awarded £100m funds from banking consortium

A North West plant hire firm has achieved a £100m funding package from a raft of banks.

Thomas Plant Hire, based in Holywell, near Chester, received funding from HSBC, NatWest and Barclays to finance is expansion plans.

Founded in 2000, the company works with a range of contractors to supply plant and equipment for government-led infrastructure schemes.

It also works with housing developers nationwide.

Its 140-strong workforce is based at eight depots, including one in Bolton.

Owner, Wyn Thomas, aims to introduce measures to improve efficiency and flexibility in the financing structure. The funds will also be used for its capital expenditure plans.

The company’s objectives were formulated in response to demand to help grow UK infrastructure services and retain jobs, as part of the Government’s COVID-19 recovery strategy.

Audit, tax and consulting firm RSM UK’s debt advisory team helped the company secure its finance package, including Ashley Suter, Umito Choji, Ed Spearing and Jack Williams.

DLA and Weightmans provided legal advice on the deal.

Ashley Suter, who leads RSM’s debt advisory service in the North West and Wales, said: “As one of the UK’s leading plant hire businesses, the funding secured will enable Thomas Plant Hire Limited to take the next steps in its ambitious growth strategy and continue to serve its diverse customer base, all while playing an integral role in supporting the Government’s COVID-19 recovery plan.”