Body repair shop gets six-figure funding boost

A 60-year-old motor body repairs firm in Bolton H Samson (Bolton) is forging ahead with new banking partner The Royal Bank of Scotland on board.

A six-figure debt restructure package and working capital facility is helping H Samson achieve expansion at its Warwick House site on Bridgeman Street.

This will enable them to create the capacity to take on more work as the company receives better banking terms and will enhance this £2.4m turnover business.
 
H Samson employs 31 members of staff with three new positions being created to support the extra work they have taken on, these include: a panel beater, an estimator and an admin position.

In October it repaired and serviced 263 vehicles which is forecast to increase each month.

More plans are in the pipeline as the company looks to consolidate its current MOT business on site and become a one stop shop with a view to increasing their car sales side of the business.

H Samson director Howard Wolstencroft said: “H Samson is a household name in Bolton as it has been operating for over 60 years and under my ownership for the last 10 years.

“Our body repair and MOT business complement each other very well as we see a seasonal trend of work throughout the year, the winter months being the busiest time of year for body repair work.

“We have the capacity on site to build the business even further and with RBS on board this has given us the flexibility to do so.”

Andrew Minors, senior relationship manager at RBS added: “We are delighted to welcome Howard to the bank and pleased we can help him achieve expansion and forge ahead with growing the business and boosting the local economy with local jobs being created. We wish him all the best and look forward to working in partnership as the company evolves.”