White Logistics, a Worcestershire-based road haulage firm, has completed the purchase of its principal operating site in Pershore following a £3million Commercial Mortgage from HSBC. The company had previously moved into the site to consolidate its growing operations.
White Logistics is one of the UK’s leading providers of logistics, warehouse, and storage solutions. The business is run by brothers Tom and Will Stracey, supported by Finance Director Giuseppe Carmine. White Logistics was previously run by Judith Stracey and acquired by Tom and Will earlier this year with the intention of investing in the business to facilitate further growth.
The move into the newly acquired premises has provided the business with approximately 50% more storage space to satisfy customer demands and has resulted in improved operational efficiencies. The business has also obtained planning permission to further develop an adjoining site to create a bespoke logistics and warehousing hub. The new facility will provide the capability for further expansion, allowing the business to more than double in size over the coming years.
The HSBC funding also included a £2 million Asset Finance facility for the acquisition of additional trucks which has in turn led to further investment in new staff – including new drivers – increasing capability in larger contracts. The business has already purchased ten new trucks and seven trailers in 2017 and plans to continue adding to its fleet each year. In addition, the company has acquired some smaller vans as part of an investment in the Whites Van Academy which seeks to train drivers from Van Driver through to HGV Driver.
Tom Stracey, Commercial Director at White Logistics said:
“Our business has seen exponential growth over the past four years, which has meant we quickly outgrew our former premises. HSBC’s support has enabled us to acquire our new facility which can provide a basis upon which future growth can be accommodated.”
David Ramsden, Head of Corporate Banking for North and South West Midlands Corporate Banking at HSBC said:
“We’re delighted to have been able to support White Logistics in this next phase of growth and to support another British business based in the Midlands. We look forward to working with Tom, Will and Giuseppe as they continue to drive their business forward.”
