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Reach secures six-figure funding for a Wakefield textiles specialist firmes first acquisition
Reach Commercial Finance has helped one of Europees leading storage, distribution and sampling service providers secure its first ever property acquisition in the Yorkshire area.
Phil Trueman put together a six-figure funding facility for Texlogistics to secure a terrific new site in Riverside Business Park in Wakefield.
The logistics business - a rapidly growing firm established in 2016 - had come up against a serious challenge to find a warehouse in a region where similarly-sized, quality spaces are rare.
When a legal issue reared its head late in the completion process, Phil was able to call on Gary Cain the director of Reach and through his contacts we were able to assist with pushing the deal over the line.
The final deal was a commercial mortgage from Allica Bank at a reasonable rate in order to preserve the companyes cash reserves.
Phil Trueman of Reach stated: We are delighted to be able to secure finance for a fast-growing business like Texlogistics.
This is the clientes first property acquisition and is a major milestone in the companyes growth.
Warehousing is at a premium in West Yorkshire and to secure this site is a major coup.
Darren Sowden, Managing Director at Texlogistics, said: We experienced a number of challenges when attempting to complete the transaction for this site - but we knew Reach would be able to provide the necessary support and give best advice.
They stepped up to help us when we needed it most and we are very grateful for their assistance in getting this deal over the line.
The new site is exactly what we wanted and will ensure we continue to grow and provide even greater services to our clients across Europe and the rest of the world.
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Leonard Curtis is a trading style of Reach Commercial Finance Limited, registered at Riverside House, Irwell Street, Manchester, M3 5EN. Company Register number is 09056450. Reach Commercial Finance Limited is authorised and regulated by the Financial Conduct Authority, FRN: 753686. Reach Commercial Finance Limited is an authorised credit broker and not a lender. We work with a an unrestricted number of lenders to find a potentially suitable arrangement for your consideration. ICO registration ZA069234 and you can check via www.ico.org.uk. We will receive commission from lenders. Different lenders pay different amounts depending on different commission models. For transparency we work with the following commission models: fixed fee, fixed rate of commission, percentage of the amount you borrow and rate for risk (this is based on the risk profile of the business). Further details of the commission model, calculation and amount will be disclosed to you throughout your customer journey. Privacy notice.
Leonard Curtis Legal Limited is a limited company, registered in England and Wales with registered number 09820186. Registered office: Riverside House, Irwell Street, Manchester M3 5EN. Leonard Curtis Legal Limited is registered with the Solicitors Regulation Authority with number 626004.