Autocentre acquires depots to expand presence out of Sheffield
SHEFFIELD family-owned firm Dexel Tyre and Auto Centre has signed a £1.07m funding deal which will allow it to acquire new sites in Lincolnshire.
Dexel is purchasing three depots in the region to secure its presence there, with the help of NatWest’s funding.
Dexel provides services for retail and commercial customers including repairs and servicing. The business currently has 12 branches throughout South Yorkshire, Lincolnshire and North Nottinghamshire, employing 130 people across its operations.
James France, managing director at Dexel Tyre and Auto Centre who have been customers of NatWest for more than 50 years, said: “We are a family owned and operated business which is focussed on providing excellent customer service across a range of products for all vehicle types.
“We had been looking at ways to purchase the depots for a number of years and NatWest was able to provide a loan which essentially provides us with the cash flexibility we need to invest in the business for the future.
“The bank has a strong understanding of what our business goals are and has always been able to provide funding in a number of ways to help us achieve our goals. This latest agreement is the newest example and will help us move forward as a business.”
Graham Nevin, senior relationship manager at NatWest, supported the deal.
He said: “Dexel Tyre and Auto Centre has been providing outstanding service to customers for more than 50 years and we believe this funding agreement will enhance its further business aspirations. We wish Dexel Tyre and Auto Centre every success for the future.”
