Bank funds electrification drive of property firm’s vehicle fleet

A Liverpool property restoration and maintenance company has begun electrifying its vehicle fleet following investment from Lloyds Bank.

Forshaw Group works with insurance companies to repair properties damaged by fire and floods.

It completed a management buyout in 2013, and since then has grown rapidly, with turnover increasing from £3m on investment to £13m today.

Now, with the support of a £33,000 loan from Lloyds Bank, the group has invested in five new electric vehicles (EVs) – making up 20% of its total fleet – as it focuses on introducing more sustainable practices alongside its continuing organic expansion.

Maintaining a hybrid model in the short term, using a blend of traditional vehicles for longer journeys, and electric for shorter, local trips, it will gradually transition its full fleet to EVs.

It is also set to install a series of solar panels to generate the power needed to charge the vehicles in-house.

Liam Hanlon, managing director of Forshaw Group, said: “Championing sustainability is becoming more and more important for every business in the UK, as the Government pushes to reach its net zero targets. We are no exception, and this initiative is a key step in our drive to slash our emissions.”

Alistair Pike, relationship director at Lloyds Bank, said: “Liam and his team have delivered exceptional growth over the last 10 years, and they are now ideally placed to champion best practice sustainability while continuing their expansion.”