TLT advises Plantforce on additional funding

National law firm TLT has continued to support Bristol-based plant hire supplier Plantforce in connection with the further investment secured from BGF. 

Plantforce is a national supplier of advanced plant hire machinery, tailored to the construction, rail, major project and energy industries. The business operates from seven depots in Bristol, Exeter, Bridgwater, Birmingham, Liskeard, Stone, and has recently expanded into the North West with a new location in Greater Manchester.

The new funds, part of a wider refinancing funded by a club structure between its existing banks NatWest Bank and Wells Fargo Capital Finance, will be invested into the company’s hire fleet and further its ambitious growth strategy, enhancing its commitment to offering customers the latest technology solutions and reliable equipment. 

TLT advised on the deal alongside Burges Salmon, who provided banking support. TLT’s team was led by corporate partner Andrew Webber, with support from legal director Leanne Fryer and associate Irina Angliss.

Charles Murphy, CFO at Plantforce commented: “This additional funding will help us to continue our recent momentum and maintain growth, as well as continuing to deliver for our customers. I would like to thank TLT for their excellent advice and hard work, which helped the deal progress quickly and smoothly.”

Commenting on the deal, legal director Leanne Fryer said: “This deal demonstrates that, despite continued economic challenges, there remains an appetite for investment into companies with a strong business proposition. Additionally, the swift completion of this deal provides further validation of the strength of our corporate practice. It was a pleasure to work alongside the team at Plantforce to get this deal over the line.”