Expansion on way for Darlaston Builders Merchants after £2m finance deal is sealed
One of the region's largest builders' merchants has laid solid foundations for further expansion following a property restructuring package supported by Hawkins Hatton, the Dudley-based law firm.
Darlaston Builders Merchants, founded in 1993, has cemented its position as one of the market-leading companies in the building trade after successfully completing a £2 million refinancing package on seven of its industrial properties in the Black Country.
The refinancing with HSBC's Black Country and Shropshire commercial team has paved the way for the company to build on its existing operation which includes depots in Darlaston, Wednesbury, Birmingham, Redditch, Coventry and Sheffield. The refinance also marks the start of a new banking relationship between the company and HSBC.
As well as opening a new 28,000 sq ft bathroom showroom and distribution centre, the company has gained planning permission for a new landscape and builders merchants at a four acre site in Walsall.
The £2 million transaction involved a re-gearing of the company's property portfolio with the commercial property team at Hawkins Hatton working closely with HSBC and Darlaston Builder's Merchants. In addition to the refinancing of existing debt, HSBC has also provided additional funding to support the company's growth.
