Mansfield drives forward with £4m
Stoke-on-Trent vehicle rescue and recovery specialist The Mansfield Group has clinched £4m from Yorkshire Bank.
The lending package is aiming to support the expansion of the business including capital investment in trucks, vans and IT, as well as providing working capital.
The company – which provides services to motoring organisations, police authorities, councils and government agencies – said it is on target to turn over £9.3m in 2011, up from £6.5m in the previous year.
Steve Ellis, finance director at The Mansfield Group, said: "Our aim is to be the best operator in our sector, so we needed a dynamic banking partner.
"This new funding supports our expansion into new territories and keeps us on course to hit our target of growing sales three fold in the next five years."
Paul Reeves, managing partner at Yorkshire Bank’s Stafford financial solutions centre, said: "The Mansfield Group is a business with a track record of strong management and it has grown solidly through continuous investment in its fleet, training and its IT systems.
"The company has clear plans for further growth and a bright future."
The Mansfield Group's head office and 24-hour call centre is based in Stoke-On-Trent but it also has operations depots in Manchester, North Manchester, Liverpool, Birmingham, Macclesfield, Sheffield, Doncaster, Stafford, Derby and Leeds.
