Shoosmiths advises on £6m firm expansion
Shoosmiths has provided “exceptional advice” to a Scottish commercial vehicle specialist on a £6 million funding package to enable the company to expand into the Midlands of England.
Livingston-based MV Commercial Limited, which operates a contract hire fleet of over 850 vehicles and sells around 40 vehicles per month, employs more than 100 staff at offices in Livingston, Manchester and London.
The company received advice on a £6 million funding package from HSBC bank.
Steven Cairns, director of MV Commercial, said: “This finance package with HSBC opens the door for further growth in a number of ways as we look to expand on the strong demand for our products and services throughout the UK.
“Shoosmiths gave us exceptional advice throughout this funding process and we had full confidence in them providing us with the best possible advice.”
Shoosmiths partners Stuart Murray and Alison Gilson, as well as real estate finance specialist Sheelagh Cooley, advised on the deal.
Alison Gilson (pictured) said: “We were very pleased to guide MV Commercial through this transaction.
“The funding that HSBC has provided will enable the company to grow in the direction that MV Commercial needs and we wish them every success for the future.”
MV Commercial expects to generate revenues of £30 million in the current financial year, a 28 per cent increase on the previous year.
Shoosmiths’ corporate team has advised public and private companies, management teams, investors and debt providers through the business life cycle.