Sandwell firm Rotala has secured major funding from its new banking partner – HSBC. The transport company plans to secure a number of new depots across the UK with the finance support, as part of an ambitious expansion strategy.
Rotala hopes that the undisclosed eight-figure revolving credit facility will enable it to increase its annual turnover by 40 per cent, from £70m to £100m in the next five years. The firm’s acquisition strategy focuses on transport depots in high-population areas with potential for economic growth.
Over the last year the business has acquired several operations, including Central Buses in Birmingham and Go Goodwins in Manchester, and it plans to use 15 per cent of its new finance facility to fund new acquisitions.
Formed in 2005, Rotala has grown through the amalgamation of local coach and bus operations and now offers chartered and scheduled bus and coach services for businesses, local authorities, the public and private individuals in the North West, South West, Midlands and Greater London.
The Tividale firm operates more than 600 vehicles and employs more than 1,500 members of staff.
For help with finding and securing funds to take your business forward visit our Access to Finance page.