ASSET hire specialist Dawsongroup is investing £30 million of funding from Lloyds Bank to grow its offering by expanding its services and overseas presence.
The Milton Keynes-headquartered business is also exploring options for transitioning to a low carbon economy via the additional £30 million by financing a range of new vehicles including trucks, trailers, electric buses and sweepers.
The company offers commercial vehicle, automation and modular temperature control solutions.
Lawrence Isles, group treasurer at Dawsongroup, said, “While our extensive experience means we’re well-established among the most critical supply chains supporting the UK economy, we’re fully aware of the need to constantly improve upon and invest in our service offering. This service underpins our philosophy of ‘usership over ownership’, providing our customers with agility, which is critical as we enter the fourth industrial revolution.
“That’s where Lloyds Bank’s support will prove critical – in the short term it will enable us to continue to develop our offering to new and existing customers, and in the long run we’re also confident it will allow us to take the steps needed to become an even more sustainable and relevant business internationally.”
James Longley, director, corporate & institutional banking at Lloyds Bank, added, “Businesses like Dawsongroup play a crucial role in keeping the UK economy moving. By investing in its current offering, it will be well-positioned to build on its ambitions, but more importantly the business also recognises the need to future-proof its operations by becoming more sustainable. We’re committed to supporting Dawsongroup as it sets out its plans for operating in a low carbon economy in the coming years.”