TRUCK supplier MV Commercial has secured £6 million expansion funding as it looks to capitalise on the upturn in the construction sector.
Livingston-based MV Commercial will draw on the funding package provided by HSBC to acquire more of the kind of lorry-mounted cranes and grabbers that are used by builders and in work on transport infrastructure.
Director Steven Cairns said MV Commercial is one of the few companies that can supply such specialised vehicles. He said the company has enjoyed a big increase in business in Scotland and south of the border in recent months driven by increased activity in the construction sector.
Privately-owned MV Commercial is on course to grow turnover by 28 per cent in the year to June, to £30m, from £23.5m in the preceding year.
The company is preparing to expand in the market in England with a new base in Birmingham.
MV Commercial said it recently made a major investment in a new London base. The company also has a depot in Manchester.
It operates a contract hire fleet of over 850 vehicles and sells around 40 vehicles per month.
MV Commercial has moved to HSBC from Bank of Scotland. Mr Cairns said HSBC's approach fitted with the company's ambitions.
Nigel Kerr, HSBC Relationship Director for Mid-Market Enterprise in Scotland, said: "MV Commercial is an ambitious business, with a strong management team."
He added: "We have a strong appetite to support the growth of businesses like MV Commercial, and are pleased to be part of this exciting period, helping them grow."
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