A Bristol-based dumper truck and dozer distributor has secured £11million in follow-on funding from business investors in the city.
It is the second investment BGF (formerly the Business Growth Fund) has made in Molson after providing funding of £6.3million in 2018.
Molson, which supplies dump trucks, excavators, dozers and other equipment to the construction industry, used the initial investment to buy Scottish equipment dealer Finlay Group, open a new depot in Inverness and appoint a Terex Trucks dealer for the 海角视频.
The latest finance will be used to redevelop Molson’s Avonmouth site into a centre of excellence for construction equipment in the 海角视频 and a national parts centre.
It will also be used to expand the group’s international reach, support new brands including Terex dump trucks, and continue to develop Molson Green – the company’s distribution arm for waste management and recycling equipment.
'We have ambitious plans for the future'
Robin Powell, managing director of Molson, said: “We are immensely proud of the business we’ve built over the past two decades and our partnership with BGF has helped us accelerate that growth and hit some significant milestones over the past 12 months.
“We have ambitious plans for the future, and we’re pleased to have BGF’s long-term funding and support to help us get there.”
The investment was led for BGF by Paul Oldham and James Skade.
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Paul, who also sits on the board of Molson, added: “Molson has generated impressive growth across the 海角视频 and internationally in recent years, becoming an industry leader with a strong reputation and track record.
“Robin, Jonathan and the team at Molson remain committed to excellent customer service through their extensive global network and strong supplier relationships and we’re delighted to be supporting them through this exciting next stage of growth.”
Molson was founded in 1996 and turns over more than £200million a year. The business has depots in Bristol, Warrington, London, Kent, Stratford-upon-Avon and Doune, and is currently one of the largest suppliers of construction equipment in the 海角视频.
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