Midlothian waste and construction services business NWH Group is going shopping with £7m worth of bank backing.
The company has secured the finance facility from Royal Bank of Scotland (RBS) to help it fund acquisitions and said it is looking at a number of companies which could complement its activities.
In 2015 NWH acquired the business and assets of DJ Laing’s waste management operation in Dundee for an undisclosed sum and is continuing to expand. Projected turnover for its latest financial year to September 30 is expected to rise to £28m from £22m with a “significant” profits increase.
NWH employs around 240 people at its Dalkeith head office and at sites in Edinburgh, Glasgow and Dundee. It has been an RBS customer since 1967 and recently put its banking requirements out to tender before opting to remain.
Managing director Mark Williams said: “When push comes to shove they have always been there to support us and they certainly helped the business steer through some of the challenges of the last recession.
“Following last year’s purchase of DJ Laing, we are growing our business and find ourselves on a very stable financial footing. We see opportunities on the back of recent environmental legislation to grow both organically and through further acquisitions. We are currently looking at a number of potential companies which complement our existing lines of business.”
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Article posted 29/10/2016