Morris Vermaport completes management buy-out with support from Santander

Nottingham-based Morris Vermaport, one of the UK's leading providers of modern lift equipment and related services, has undergone a management buyout with funding support from Santander Corporate & Commercial. Morris Vermaport has also doubled its working capital facility with Santander as part of its long-term growth plans. The bank has also improved the firm's international banking facilities to support the ongoing growth of the Vermaport Shopping Cart conveyor whose key customers are based in Europe and the US. The funding from Santander Corporate & Commercial to support the MBO of Morris Vermaport and sister company Vermaport Ltd, as well as the increased working capital facilities, were provided through Santander's Growth Capital fund under its Breakthrough product and service suite. Santander has also agreed additional lending facilities to fund the acquisition of a smaller lift maintenance business should the opportunity become available.


Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.

Other Articles

When you’re an established business, recruiting top talent in all the areas you need can seem like a never-ending challenge.


If you’re a start-up or small business, how can you put together an attractive employee package to appeal to top talent – graduate and…


Mexico is predicted to become one of the world’s top 10 economies in the next 10 or 20 years.

Stop fraud

More than one million incidents of financial fraud occurred in the first six months of 2016, according to official figures released by…

Santander’s Head of SME International Mark Collings discusses why exporting to new global markets may provide businesses with new and…

Where Next?