RSM UK’s debt advisory team has helped Thomas Plant Hire Limited secure a total funding package of £100m from HSBC, NatWest and Barclays to support its “ambitious” expansion strategy.
Established in 2000, Thomas Plant Hire Limited is a plant hire and groundwork operations business, working with UK contractors to supply plant and equipment for government-led infrastructure projects.
RSM also said the business also supports housing developers nationwide. The company is based in Holywell, North Wales, with 140 staff employed to support customers across the UK from eight depots including South Wales, Birmingham, and Bolton.
In securing the funding package, the company, owned by CEO Wyn Thomas, will be able to “drive forward” with its next phase of growth, which includes improving efficiency and increasing the flexibility in the financing structure, and financing its capital expenditure programme.
According to RSM, these “strategic” objectives were outlined in response to “significant” demand faced by Thomas Plant Hire Limited to help grow UK infrastructure services and retain jobs, as part of the Government’s Covid-19 recovery strategy.
RSM’s Ashley Suter, Umito Choji, Ed Spearing and Jack Williams advised Thomas Plant Hire Limited on the funding package to support the company’s next phase of acquisitive growth. DLA and Weightmans provided legal advice on the deal.
Ashley Suter, RSM’s debt advisory service lead, said: “As one of the UK’s leading plant hire businesses, the funding secured will enable Thomas Plant Hire Limited to take the next steps in its ambitious growth strategy and continue to serve its diverse customer base, all while playing an integral role in supporting the Government’s Covid-19 recovery plan.”