Stobart extends fleet with £5m funding

LOGISTICS group Stobart has secured £5m from Barclays to fund a new fleet of 265 trailers.

The Warrington and Carlisle-based business arranged the finance with Barclays’ corporate asset finance team.

Stirling Hulme, regional sales director for the division, said: “Whilst I have known Eddie Stobart for many years and have been involved in some exciting projects, the core of the business will always be on the UK’s road network.

“It is always satisfying to know that we have been able to work with a customer to provide a mutually acceptable solution to assist in further expansion – especially with such a well-known and respected brand as Eddie Stobart.”

Stobart’s chief financial officer Ben Whawell said: “This funding will allow us to make continued significant investment in our fleet and ensure our industry-leading fleet utilisation and sustainable distribution services are maintained.”