ABN AMRO Commercial Finance have helped staff retain their jobs at Worcestershire-based forklift and transport firm Waldrons Transport Ltd.
The Invoice and Asset Based Lender provided the company with a £450k Factoring facility to enable a management buy-out by logistics industry veteran Roy Barrett, who purchased the business from its owners Brian Waldron and his brother Graham.
Established in 1970, family-run Waldrons has been a successful player in the logistics industry for over four decades until the former owners suffered health issues and considered closing the company down.“This business has huge potential as one of the very few serving a niche industry,” says Barrett, who has retained all ten staff and now hopes to diversify the company’s offering. “After explaining what we were hoping to do with Waldrons, ABN AMRO Commercial Finance came up with a tailored solution that works for us. With ABN AMRO’s help, we’ve taken the first steps in moving this company forwards.”
Giles Senter, Business Development Manager at ABN AMRO Commercial Finance, is pleased to have played a part in helping Waldrons maintain their legacy. “We’re thrilled to be able to help an established local business continue into its fifth decade,” he says. “With this facility, Roy has been able to not only save his company but ensure its success.”