UK crane rental company Mechplant (North East) has secured a loan from Yorkshire Bank to help it buy new machines.
The undisclosed amount will be used by the company to purchase new crane models, including a 40 tonne Demag AC-40. To take on a greater number and broader range of contracts from across the North Yorkshire and Scottish Boarders regions, the company also plans to expand its team with the hire of two additional crane operators.
Stephen Mackinson, Mechplant director, said, “We have worked hard to develop both of our niche product offerings simultaneously, and the bank’s assistance will enable us to enhance these as we provide equipment for an increasing number of businesses within the construction and house building sectors.”
The deal with Yorkshire Bank follows the recent management buyout. Business directors Brian Wray and Stephen Mackinson bought the specialist plant-hire division from holding company Esh Group earlier in 2019.
Andy Radcliffe, Esh Group CEO, said, “As Esh Group continues to drive its simplification agenda, allowing us to focus on the larger, strategically important parts of our group, it’s really pleasing to see Mechplant being taken over by its long-standing management team.”