A Somerset-based transport and warehousing company has secured a multi-million pound finance deal to buy new premises.
Willmotts Transport, which provides logistics solutions to a wide range of businesses including many food and beverage retailers, has added a 400,000 square foot warehouse in Midsomer Norton to its portfolio of seven warehouses across the county.
The company, which employs more than 150 people, said it had emerged from the pandemic from a “strong position”, with steady year-on-year growth, and was looking to capitalize on demand within of its supply chain.
The 100-year-old company, which has more than 100 vehicles in its fleet, said its new base would allow it to consolidate customer inventory more centrally and reduce its reliance on small satellite rental operations.
Willmotts Transport, headquartered in Shepton Mallet, secured the funds that financed the acquisition from Natwest.
Andy Stott, Managing Director of Willmotts Transport, said: “We have been fortunate to be able to continue operating during the various COVID-19 lockdowns and we have seen strong demand from our customers within the supply chain.
“This funding from Natwest has allowed us to capitalize on this demand, nearly doubling our capacity with these new premises.”
The deal was managed by Natwest’s relationship manager, Michael Mills, and Ian Hussey, relationship manager at RBS Invoice Finance.
Mr Mills said: “We have supported Willmotts Transport for many years, and it is great to see them continue to find new avenues of growth.
“These new premises give them the opportunity to continue to build on the success they have enjoyed, while consolidating the number of leased satellite sites they have in their portfolio.”