DLA Piper advises on GBP100 million financing of a North West plant hire firm
DLA Piper has advised the lenders on the GBP100 million funding of Holywell based Thomas Plant Hire Limited.
The funding, received from several major banks by way of asset-based finance facilities, allows Thomas Plant Hire to finance its expansion plans and improve efficiency and flexibility in its financing structure. The company works with a range of contractors to supply plant and equipment for government-led infrastructure projects. It has a 140-strong workforce based at eight depots, including one in Bolton.
The funding comes in response to significant demand to help grow UK infrastructure services and retain jobs. Audit, tax and consulting firm RSM UK’s debt advisory team supported the company in securing the funding.
The DLA Piper team was led by Manchester-based Finance partner Joseph Frew, assisted by senior associate Alastair Carruthers and associate Alex Stone.