HRVS takes on MAN
Derbyshire-based Heage Road Vehicle Services (HRVS) has expanded into South Yorkshire with the acquisition of the MAN Truck repairs and servicing business. HRVS, which also has depots in Newark and Leicester, said that it was eyeing further acquisitions over the next year.
HRVS was advised by Nottingham-based Fraser Brown Solicitors on the deal.
The company, which specialises in repairs of MAN HGV vehicles, was provided with a funding package from Yorkshire Bank’s Financial Solutions Centre.
Keith Sims, group service director of HRVS, said: "This business opportunity was presented to us by MAN so we were very keen to take up the offer quickly and secure the deal as it represents a significant addition to our portfolio, stretching our geographic reach and customer base."
Gavin White, a corporate law partner at Fraser Brown, added: "Time was of the essence to get this deal to completion and working with the team at Yorkshire Bank we were able to deliver the funding package in four days which is quite an achievement in the current climate."
The sum of the transaction, described by parties as a multimillion-pound deal, was not disclosed.
