20/12/2006

Finance Wales investment helps vehicle repairer BP Rolls achieve its expansion plans

A £240,000 investment by Finance Wales has enabled car and commercial vehicle repairer, BP Rolls (Newport) to expand its operations in Newport, Gwent.


Finance Wales’ investment is part of a wider financial package totalling £1.2 million that will see the company purchasing its current premises and make a long-term commitment to its future in Wales. The Newport-based company offers insurance companies and fleet managers with a ‘one-stop-shop’ service. It plans to continue targeting this expanding market.

Finance Wales, a wholly owned subsidiary company of the Welsh Assembly Government, created to provide commercial funding to Welsh SMEs, said the latest investment was an excellent example of how it is supporting the growth of SME’s in Wales.

David Rolls, Managing Director of BP Rolls, said: “Finance Wales’ investment has helped us to expand our operations in Newport. Finance Wales’ investment is part of a wider financial package totalling £1.2 million and we were pleased with the help, support and experience Finance Wales was able to bring.”

Andrew Davies, Minister for Enterprise, Innovation and Networks, said: “BP Rolls is a good example of a company needing to expand due to growth and requiring solid financial investment and advice. I am pleased that the Welsh Assembly Government’s approach to supporting businesses is continuing to have an impact on the performance of the economy. Finance Wales has evolved successfully in the last five years and is now a well respected financial institution with a seriously commercial edge.”

Samantha Cole, Finance Wales Fund Manager, said: “Finance Wales’ investment in BP Rolls is an excellent example of how it can help SMEs achieve their growth plans, whether as in the case of BP Rolls, they are property/asset purchases, management buy-outs, or funding for expansion.”

She added: “Finance Wales’ investment executives have a wealth of experience of working with SMEs to put together flexible funding packages to suit their needs and I would encourage them to contact Finance Wales to discuss their plans.”