Fox eyes growth
20 October 2023
The acquisitive Fox Brothers haulage, plant hire and aggregate group reports that it has received a £70m asset-based lending facility from NatWest with syndicate bank HSBC UK to support further expansion and fleet renewal.
Last year Fox bought Cotswold Roller Hire (CRH) and B&W Plant Hire & Sales as reported earlier on the blog. And last month it formed a strategic alliance with the Chinese plant manufacturer LiuGong to develop its sales in the UK.
Paul Fox, CEO at Fox Brothers, said: “This ABL funding from NatWest and HSBC is a welcome development to our business, as we embark on our next phase of our journey. We are keen to enhance our long-standing position within our industry.”
“The ABL will give us extra security when we scope out new acquisition opportunities in the near future.”
Fox Brothers, which has its headquarters in Blackpool, is a fourth-generation family run business, with 850 employees across all parts of its business, and 32 sites across the UK.
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