Accident management firm set to crash £5m turnover target
A BIRMINGHAM accident management firm has bought the land it is based on and is now set to grow its fleet and create new jobs after securing a £700,000 funding package.
Central Accident Management Services offers insurance replacement vehicle services to clients nationwide including accident repair centres, insurance brokers and taxi hire operators.
The firm, which is celebrating its 10th anniversary this year, has acquired the 2.5-acre site in Small Heath that it previously rented, and has allocated the former rental spend to reinvest in expanding the services it offers to clients. The expansion has created seven new jobs.
The business is also set to expand its 90-strong fleet of replacement and rental vehicles by 10%, using a working capital facility from Lloyds Bank to make the investment without affecting its daily capital working flow.
The increased fleet size will give the firm the capacity to work with a bigger pool of clients by offering a larger variety of vehicles for replacement, short and long term rental, as well as leasing and contract hire options.
The expansion will also enable the firm to increase its annual turnover to £5m and create management and operational positions within its replacement vehicle, claims handling, vehicle leasing and taxi operations, adding to the firm’s 35-strong workforce.
Imran Dean, managing director at Central Accident Management Services, said: “We are fully committed to serving businesses on a national level, and it is important that we now have the scope and flexibility to expand on our land in the future as opportunities arise.”
Inderjeet Malhi, relationship manager at Lloyds Bank Commercial Banking, said: “Firms such as Central Accident Management Services offer important support to the automotive industry, and the spectrum of services it is able to offers its customers keeps the business competitive in a crowded market.
“The funding provides the firm with the tailored financial support it needs as it works towards its goals.”
