Haulier in the fast lane with six-figure funding package

A Keighley-based national haulier has expanded its fleet and bolstered its finances with support from HSBC UK.

McDowell has successfully navigated difficult trading conditions caused by Covid-19, with the business furloughing 50% of staff due to sudden changes in demand.

As lockdown has eased, staff have safely returned to work and the business has used used a six-figure funding package from HSBC UK to acquire four new HGVs.

Adding to McDowell’s 104-strong fleet, the business has acquired four Euro VI compliant Mercedes Actros 510.

With support from this latest funding and by expanding its fleet, McDowell is expecting modest growth over the next 12 months.

Geoffrey Hirst, director at McDowell, said: “Demand for our services was certainly impacted by the pandemic.

“We had to use the furlough job retention scheme to protect jobs whilst customer orders were reduced and worked with HSBC UK to secure support through the lockdown.

“However, we have a strong and varied client base that enabled us to still keep a significant proportion of vehicles on the road and we diversified into the food supply chain since the need for supermarket deliveries increased, and also delivered hospital beds to NHS Nightingale Hospitals throughout the UK.

“We’re optimistic about the future of the sector. Our full team is now back at work and despite being in the midst of uncertain times, we are really pleased to have just secured funding from HSBC UK to purchase four new vehicles and expand our articulated vehicle fleet.

“These new vehicles will enable us to improve our fleet in response to customer demand and provide a comfortable experience to our drivers, which is paramount to us.”

Anthony Wild, corporate relationship director, North & West Yorkshire, HSBC UK, added: “Hauliers across the UK have acted as unsung heroes throughout the Covid-19 pandemic, ensuring supply chains remain uninterrupted whilst simultaneously dealing with issues of their own.

“We’re delighted to support McDowell throughout this period, with the investment into an expanded fleet showing the clear ambition of the business.”

Founded in 1976, R McDowell Haulage & Distribution Ltd now employs 150 staff across all operations. The business has over 100,000 sq ft of warehouse space across multiple sites in Keighley.