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The owners of a nationwide plant hire company with a fleet of over 2,500 pieces of equipment have used a major business finance facility to return ownership of the business into family hands.
B&W Plant Hire & Sales Ltd, which operates depots in Blackburn, Keighley, Northwich and Southampton successfully utilised a £3.5 million invoice discounting facility from Skipton Business Finance to support with their demerge from a corporate group that acquired a stake in the business in 2022.
Bill and Mary Whitwell founded Whitwell Plant Hire in Barrow, Lancashire, in 1963, acquiring their first new machine, a JCB 3C, in 1965. After their separation in 1975, Bill continued in the industry, building a fleet that included Volvo BM A20 dump trucks, O&K excavators, and Komatsu dozers.
In 1988, he briefly ventured into the hotel business before returning to plant hire in 1994, establishing B&W Plant Hire. His son, William Whitwell, now Managing Director, joined in 1998 when the fleet had around 50 machines.
Today, B&W operates over 2,500 modern machines, from micro excavators to 50-tonne models nationwide.
Commenting, William Whitwell, Managing Director of B&W Plant Hire & Sales Ltd said:
“I’m thrilled to be leading the business once again, with renewed motivation and optimism for the future.”
“Thanks to the exceptional support from Skipton Business Finance, we’ve not only regained full ownership of our business but also unlocked exciting new growth opportunities. Their invoice discounting facility empowers us to expand our team, invest in state-of-the-art machinery, and embrace digitalisation - enhancing efficiency and ensuring long-term sustainability.”
“Their outstanding customer service, deep industry knowledge, and commitment to delivering swift, reliable funding made this transition seamless. Skipton Business Finance’s personal approach and certainty in execution truly set them apart as a trusted financial partner.”
Adam Bradbury, Regional Sales Director at Skipton Business Finance, said: “With their aim of returning to being a family-owned business, B&W needed a strong and flexible funding solution that will support the business moving forwards - and it was a pleasure to be able to assist.”
"We support businesses across various industries, but helping a family run business back into family ownership and put in place the foundations for long-term growth brings us real satisfaction.”
"The finance solution we provided has equipped them with the right financial tools to move forward, invest in their fleet and operate independently with confidence."
For more information, visit: www.skiptonbusinessfinance.co.uk