BGF has invested a further £11 million into construction equipment dealer Molson Group.
Molson said the cash will be used to develop the firm’s existing sites and brands, as well as expand its international and waste management offerings.
BGF invested £6.3 million into Molson last year. Since then, the business has acquired Scottish equipment dealer Finlay Group, opened a new depot in Inverness, and recently been appointed UK dealer for Motherwell-headquartered Terex Trucks. Molson’s turnover is now in excess of £200 million.
The fresh investment from BGF will be used to redevelop Molson’s Avonmouth site into a ‘centre of excellence’ for construction equipment and a national parts centre. It will also be used to support new brands and continue to develop Molson Green, its distribution arm for waste management and recycling equipment.
Robin Powell, MD of Molson said, “We are immensely proud of the business we’ve built over the past two decades and our partnership with BGF has helped us accelerate that growth and hit some significant milestones over the last 12 months. We have ambitious plans for the future, and we’re pleased to have BGF’s long-term funding and support to help us get there.”
Paul Oldham, BGF investor who sits on the board of Molson, added, “Molson has generated impressive growth across the UK and internationally in recent years, becoming an industry leader with a strong reputation and track record. Robin, Jonathan and the team at Molson remain committed to excellent customer service through their extensive global network and strong supplier relationships and we’re delighted to be supporting them through this exciting next stage of growth.”
