Portakabin brand owners agree 鈥榞rowth鈥� facility with HSBC and Lloyds
Shepherd Group has secured a 拢50m funding deal with two banks that it says leaves it primed for growth.
The York-based firm, which counts the Portakabin business among its interests, has struck the deal with HSBC and Lloyds. HSBC has also provided a 拢20m working capital facility.
Shepherd Group chairman Alan Fletcher said the deal 鈥渟trengthens our financial position and demonstrates significant confidence in the potential of the group, providing us with additional flexibility and capacity for growth鈥�.
Martin Lunt, HSBC鈥檚 head of corporate banking in Yorkshire, said Shepherd Group appeared to be bucking some trends in the sector.
鈥淲hile some businesses operating in the construction sector have experienced challenges in achieving growth through the recession, Shepherd Group has continued to thrive, demonstrating that a forward thinking approach can overcome barriers presented by market conditions,鈥� he said.
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