Haulage Company Secures Funding from HSBC

Haulage Company Secures Funding from HSBC

A six-figure funding package has been secured by a West Yorkshire haulage company from HSBC UK to expand its fleet. Keighley-based R McDowell Haulage & Distribution has used the funding to acquire two new 18-tonne Mercedes-Benz HGVs, compliant to the latest Euro VI European emissions legislation.

“This investment in expanding the McDowell fleet signals the start of an exciting new chapter for the company. In recent years we have found ways to ensure the longevity of the business, whether it be installing satellite tracking of goods for customers or investing to upgrade our fleet to the latest emissions standard. We look forward to providing haulage solutions for companies throughout the UK for many years to come,” said Geoff Hirst, director of R McDowell Haulage & Distribution.

The new vehicles will enable the business to scale-up its capacity for freight and meet growing demand in a more environmentally friendly way. They will also help it to increase its presence in emerging UK markets.

Following the deal and fleet expansion, McDowell is expecting to increase turnover over the next 12 months.

“McDowell has an excellent reputation across the UK for providing a reliable service with an emphasis on fantastic customer care. Using a combination of expertise and resource, the business has developed an effective distribution network that can be trusted. We’re delighted to be supporting the business as it goes from strength-to-strength,” added Anthony Wild, relationship director for West and North Yorkshire at HSBC UK.

Founded in 1976, R McDowell Haulage & Distribution Ltd now has more than 100 vehicles in its fleet and employs 150 staff across its operations. The business has more than 100,000 sq ft of warehouse space across multiple sites in Keighley.

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