£100m cash boost for plant hire company

Thomas Plant Hire has landed a £100m funding package to support major expansion plans.

Established in 2000, Thomas Plant Hire works with UK contractors to supply plant and equipment for government-led infrastructure projects.

The business also supports housing developers nationwide. The company has 140 staff employed to support customers across the UK from eight depots including South Wales, Birmingham, and Bolton.

In securing the funding package, the company, owned by CEO Wyn Thomas, will be able to drive forward with its next phase of growth, which includes improving efficiency and increasing the flexibility in the financing structure, and financing its capital expenditure programme.

RSM helped secure the funding through HSBC, NatWest and Barclays.

RSM’s Ashley Suter, Umito Choji, Ed Spearing and Jack Williams advised Thomas Plant Hire.

DLA and Weightmans provided legal advice on the deal.

Suter 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.”