RBS deal boosts Shropshire machinery firm
A plant and machinery repair firm based in Shropshire has sealed a new financing deal which will see it expand into larger premises.
MSM Plant Limited has sealed the deal with The Royal Bank of Scotland to move into its new home at Halesfield 22 in Telford. In the process, the company is taking on two new members of staff.
Managing director Mat Smith started the business in 1999, using his own background and experience in the industry.
MSM purchases used equipment for the hire industry at auction and through other traders, which the company resprays and repairs ready to supply and sell across the UK.
The company's existing premises had been hampering its ability to take on more business, and to grow the workforce – while bigger premises would address this issue.
A large commercial unit on the Halesfield Industrial Estate in the south of Telford has since been purchased which MSM is now using as its centre of operations, having previously been based in Shifnal. The company was established in 2005.
Ambitions
RBS worked closely with Mr Smith to secure a loan to help him achieve his short-term ambitions.
As a result, two new positions have been created – one full-time HGV driver and one full-time workshop staff member will join the company's existing workforce. Mr Smith said: "In recent months demand for our services has grown considerably across the UK.
"As a result I decided that the time was right to seek investment for the business to develop it to the next level.
"With the support and guidance from RBS we have successfully secured funds which has facilitated a positive move for us and one that allows us to remain and operate in Telford."
Zoe Bament, relationship manager at RBS, added: "Mat has achieved real success with his business and I wish him the best of luck with his new premises.
"I am pleased that we have been able to provide him with the support he needed to facilitate growth and allow for expansion."
