Funding package will boost Brindley growth

The lending facility has been provided by Lloyds Bank's team based on Colmore Row in Birmingham, using funding from the Government-backed Funding for Lending Scheme (FLS), which enables businesses to take advantage of reduced borrowing costs in order to boost their growth plans and support future investment.

The funding package provides additional capital which will help to support the continued growth and market expansion of Brindley Garages Group, including the roll out of new garage locations across the wider West Midlands region.

The funding from Lloyds Bank has contributed to the recent opening of a brand new Kia dealership in Tipton, which boasts a 15-car showroom, 10 service bays and space for 60 used cars.

Together with the expansion of its regional footprint, the funding will also enable Brindley Garages Group to maintain its focus on the continued improvement of its existing garage network. Most recently, the business has undertaken the complete refurbishment of its Brindley Nissan and Mitsubishi garage in Cannock.

Brindley Garages Group is the largest family owned car dealership in the West Midlands and currently operates 11 franchised garage locations across the region, representing 10 manufacturers including Honda cars and motorbikes, Vauxhall, Kia, Nissan, Chevrolet, Mitsubishi, Mazda, Volvo and Hyundai.

The business was established in 1931 in Codsall, by the father of Robin Brindley, the current group chairman, and how has 380 employees.

Brindley Garages Group, which has an annual turnover of £140million, was a new customer for Lloyds Bank in 2013, after switching from its previous banking provider to secure increased working and development capital.

Paul Ashcroft, finance director at Brindley Garages, said: "Although we have experienced a highly competitive trading environment in recent years, our business has continued to go from strength to strength.

"This funding facility from Lloyds Bank demonstrates their commitment to helping us to realise our long-term ambitions to drive our continued growth and expansion."

He added: "2014 looks set to be another year of development and expansion for our business. As part of our strategy to accelerate the pace of organic growth, we are always looking for the right acquisitive opportunity to increase our reach across the wider West Midlands and have ambitions to open more garages across the region within the coming year."

Ian Fitzjohn, relationship director at Lloyds Bank Commercial Banking, added: "The company's reputation and credibility as a leading car dealership in the Midlands continues to grow and we are committed to working with them to provide the backing they need to drive expansion and development ."