15m facility for Pochin
Thu, 30th October 2014

£15m facility for Pochin

Cheshire construction and property group Pochin has secured a new £15m credit facility.

The Middlewich-based company was taken private earlier this year in a deal led by chief executive James Nicholson, who is the grandson of the company's founder.

The new facility with the Royal Bank of Scotland provides £15.2m of investment and working capital.

James Nicholson said: "We believe strongly that the take-private of Pochin was a key step in helping us prepare our business for a period of sustained investment and growth

"Our new facility with RBS allows us to move forward in exciting market conditions, whilst continuing with the values forged over 80 years as a business noted for quality and service."

Karen Johnson, head of real estate at RBS in Manchester, said: "We are delighted to support Pochin, who are exactly the type of growth business we look to work with. Its heritage, proven track record and future vision is an optimum mix."

category North West  |  source Insider Media