Global Autocare agrees new funding deals with Lloyds and Santander

FLEET operator Global Autocare has secured new funding lines of £6.5m from Lloyds bank and Santander Corporate and Commercial bank.
 
The new funding comes after the Leeds-based company invested £5m in a new headquarters in Leeds with the support of NatWest Bank.
 
Global Autocare employs 60 staff and offers daily rental, contract hire, maintenance, fleet management, vehicle movements, storage and sales to corporate and trade customers including Carlsberg, Zenith and Helphire.
 
The business, which has a fleet of more than 1,400 daily rental vehicles as well as a longer term contract fleet, is run by founder Geoff Bloore and finance and operations director David Sadler.
 
The business was recently visited at its new 157,000 sq ft HQ on Gelderd Road, by Royal Bank of Scotland chief executive Stephen Hester who said the firm was exactly the type of business the bank should be working hard to support.

David Sadler commented: “The additional funding has been secured to enable Global to grow its fleet to service the needs of existing and new customers over the coming months. The continued investment in fleet and move to our new head office on Gelderd Road signal exciting times for Global.”