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Tuesday 15th September 2009
15 September 2009
The parent company of Shepherd FM is to receive a £90m injection of funds from its bankers HSBC.
Shepherd Building Group, one of Britain's biggest family-owned companies, operates in a number of sectors including FM, mechanical and electrical engineering, construction and commercial property.
The Group has increased its access to bank credit to allow it "to pursue its strategy and growth plans to take advantage of future opportunities in the market".
Shepherd Group said that the "growth engines" where it would look to invest were acquisitions, technological innovation, people and property. It also confirmed that the facility was available to all parts of Shepherd Group, without being specific to any of them.
Terry Smith, group finance director, Shepherd Building Group said: "This extensive facility provides us with the flexibility to invest in our business over the coming years. Despite challenging market conditions, we remain well capitalised, and as such we are delighted to be in a position to pursue growth plans."
David Gregson, HSBC senior corporate banking manager, Yorkshire & North East, said: "HSBC is delighted to be able to provide further support to our long standing customer. The facilities - which recognise the Group's financial strength and standing - will allow the management team to pursue their business plans from a sound base and enable them to capitalise on opportunities across their diverse operations."
Shepherd FM's clients include the Foreign and Commonwealth Office, Twickenham Stadium and Mercedes-Benz.
The parent company of Shepherd FM is to receive a £90m injection of funds from its bankers HSBC.
Shepherd Building Group, one of Britain's biggest family-owned companies, operates in a number of sectors including FM, mechanical and electrical engineering, construction and commercial property.
The Group has increased its access to bank credit to allow it "to pursue its strategy and growth plans to take advantage of future opportunities in the market".
Shepherd Group said that the "growth engines" where it would look to invest were acquisitions, technological innovation, people and property. It also confirmed that the facility was available to all parts of Shepherd Group, without being specific to any of them.
Terry Smith, group finance director, Shepherd Building Group said: "This extensive facility provides us with the flexibility to invest in our business over the coming years. Despite challenging market conditions, we remain well capitalised, and as such we are delighted to be in a position to pursue growth plans."
David Gregson, HSBC senior corporate banking manager, Yorkshire & North East, said: "HSBC is delighted to be able to provide further support to our long standing customer. The facilities - which recognise the Group's financial strength and standing - will allow the management team to pursue their business plans from a sound base and enable them to capitalise on opportunities across their diverse operations."
Shepherd FM's clients include the Foreign and Commonwealth Office, Twickenham Stadium and Mercedes-Benz.