A Merseyside distribution business has acquired a nearby property and warehousing firm with the support of a £3.5m funding package.
Newton-le-Willows-based H&M Distribution has acquired HBT Properties and Hunt Brothers Warehousing & Distribution – with the funding coming from NatWest and Lombard Asset Finance.
H&M Distribution, a £20m turnover pallet delivery distributor, previously rented its property in Newton-le-Willows from HBT Properties which in turn owns Hunt Brothers Warehousing & Distribution.
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This acquisition sees H&M Distribution gain full control of the 100,000sq ft warehouse premises, in a move that secures the long-term future of the company.
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As part of the acquisition, H&M Distribution has also taken ownership of Hunt Brothers’ storage facilities.
H&M Distribution was established in 2007 and has grown to become a leading supplier of distribution services in the UK, with a 70-strong fleet of vehicles and employing more than 140 members of staff.
Tim Rodwell, finance director at H&M Distribution, said: “We have always been keen to make strategic acquisitions to continue with the impressive growth we’ve seen over the last 10 years, so when the opportunity to acquire HBT and Hunt Brothers Warehousing came, it made complete sense to us.
“We started working with NatWest in 2019 when we decided to look for a new banking partner that would remain alongside us on our next phase of growth. The support we’ve had during this acquisition has been second-to-none.”
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Hunt Brothers Warehousing & Distribution has provided warehousing services to customers since 1929.
Corinna Sissons, director of commercial banking, at NatWest said: “This is an exciting phase in H&M Distribution’s expansion.
“Not only has the acquisition broadened their remit to customers, but it’s given them full ownership of their warehouse facilities, providing security and the ability to develop as the business evolves further. “
Kevin Connors, senior relationship Manager at NatWest, added: “In the two years we’ve partnered with H&M Distribution, I’ve been impressed with their drive for sustained growth. This acquisition is evidence of that.
“The business is an asset to the local region, and I look forward to watching where they go next.”