Manufacturer buys premises after securing funding deal
A WEST Midlands manufacturer is targeting growth after securing funding for the acquisition of new and existing premises.
J C Payne has been able to complete the latest phase of its growth strategy following support from Royal Bank of Scotland.
Acquired for an undisclosed sum, the company has bought its existing 90,000 sq ft premises on Westgate in Aldridge as well as a 40,000 sq ft derelict building next door. The derelict building is to be developed to provide additional production facilities to accommodate the business’ steady growth.
The firm anticipates the expansion will see the creation of a number of new jobs, while ensuring that it remains in the West Midlands.
The family-run company, which dates back to 1925, specialises in the manufacture of bodies for commercial vehicles from 3.5 tonne and above. It was acquired by current owners Kevan Brandrick and his two sons Garry and Neil Brandrick in 2009 and has expanded steadily since then.
In 2015, the firm established JC Payne Specialist Services, a separate company which was the result of the acquisition of Aire Body Care which had gone into administration. JC Payne secured jobs and rebranded the firm, which provides commercial vehicle body and tail lift service, repair and maintenance and also operates from the company’s Aldridge premises.
Neil Brandrick, managing director of J C Payne, said: “The acquisition is a great move for us and really cements the future of our business in the region. The company has performed steadily during the last few years and we are continuing to focus on our growth strategy to secure future expansion. The purchase of the two premises supports our plans, securing our existing operations whilst also providing us with the ideal space in which to expand when the time is right.
“The support we have received from Royal Bank of Scotland has been excellent. (They) completely understood the importance of securing this acquisition for our business and acted in a short time frame to help complete the deal.”
David Robinson, Head of Manufacturing Midlands at Royal Bank of Scotland, said: “I am pleased that we have been able to support Kevan, Neil and Garry in their bid to acquire the two premises. This will be a very good move for the company and will provide them with long term security and the space they need to expand.”