Rotala PLC has secured an undisclosed eight-figure Revolving Credit Facility from new banking partner, HSBC, to “help drive its ambitious acquisition strategy.”
Established in 2005, Rotala offers private hire, contracted and commercial coach and bus services in the north west, south west, midlands and greater london.
Rotala will use 15% of the funding to “acquire a number of transport depots across the UK, specifically in high population areas with potential for economic growth.”
It says it hopes to increase annual turnover by 40% from £70m to £100m in the next five years.
Rotala CEO Simon Dunn says: “The facility will enable Rotala to pursue its ambitious expansion strategy, both organically and through acquisitions.
“HSBC demonstrated a clear understanding of the UK transport market and the kind of finance support a group like ours needs to grow.
“Our Relationship Manager at HSBC, Hayden Adams, has been instrumental in getting this deal across the line quickly and efficiently.”
Claire Brunning, HSBC’s Area Director for Large Corporate Banking in Birmingham, says: “Rotala approached HSBC with a clear vision for the business and an understanding of the types of funding it would need to pursue its acquisition strategy.
“The bank has extensive experience in the transport industry so we were able to put a tailored and competitive finance package in place to support its plans. We look forward to being a part of Rotala’s journey during this exciting time.”
