HSBC says yes to refuse vehicle supplier

Published by

Nicky Godding

A Dursley-based refuse vehicle supplier has secured a £1.5 million finance package from HSBC UK to expand its business.

Thanks to the funding, Refuse Vehicle Solutions, the UK’s leading provider of all makes and models of remanufactured and quality used refuse trucks, municipal vehicles and dustcarts, has doubled its workshop capacity at the firm’s national hub in Gloucestershire.

It has built five new service bays have to expand the number of refuse fleet vehicles it can repair and maintain.

HSBC UK’s latest cash injection follows a £1 million finance package secured in 2017 to add a fleet of new trucks for its customer to buy or hire. The company now supplies new, used and remanufactured refuse vehicles across depots in Birmingham, London, Oxfordshire, Devon and Cornwall.

Spencer Law, Managing Director of Refuse Vehicles Solutions, said: “We’re very excited to be expanding our service provision in Gloucestershire and we’re incredibly grateful to HSBC UK and our relationship manager, Jamie Lait, who have supported our ambitious business plans.”

David Butler, HSBC UK’s Area Director for Bristol, Gloucestershire and Wiltshire, added: “Our funding has enabled the business to increase capacity and freed up cash which will be used to fulfil new contracts. We’re delighted to have supported the team at Refuse Vehicle Solutions for the last five years and look forward to seeing them reap the rewards of their growth.”

Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe. After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts. She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.