27.03.2015

Hewden raises £135m

UK rental company Hewden has secured a new £135 million credit line, from Bank of America with support from a syndicate of five other international financial institutions.

The company says that in 2015 it plans to increase its presence in the industrial and engineering market sectors, with additional products and services.

Chief financial officer Darren Woods said: “The new debt facility will enable Hewden to further its market penetration and growth plans as we continue our aggressive investment strategy in new assets, which over the past 24 months has seen us place orders with our suppliers for over £100 million. 2015 will see a continuation of this plan as the Company establishes its position at the forefront of the UK plant rental industry.”

“As the recovery in the market place continues, we are delighted at the confidence our new banking syndicate has demonstrated. This new deal provides Hewden with the access to funds which will aid us in facilitating and delivering against our 2015 objectives.”