Plant machinery firm undergoes MBO
One of Northern Ireland's largest distributors of truck and heavy plant machinery has undergone a management buyout backed by a £4m funding boost from Santander Corporate and Commercial.
The deal for Coleraine-based TBF Thompson (Garvagh) was led by directors Raymond Crilly, Alan Espie and Seamus Doherty. Santander's £4m investment is the bank's first ever structured finance deal in Northern Ireland and will help TBF Thompson expand the range of truck and heavy plant machinery it provides.
The company is also set to recruit apprentices for both its vehicle and plant business. TBF Thompson hopes that the MBO will herald the 'start of a new growth-focused business plan under a new executive board'.
Mark Robinson, relationship director at Santander Corporate and Commercial, said: 'We have been able to deliver a bespoke funding package that suited the firm's particular requirements and look forward to seeing TBF Thompson grow even further.'
Note: News bulletin content has been provided by a third-party and is not the opinion of Santander.
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…
More than one million incidents of financial fraud occurred in the first six months of 2016, according to official figures released by…