Plant hire firm Speedy Hire today secured vital financial backing which its boss hailed as reflecting “our bankers’ confidence in the business”.
The London-listed firm extended its £180m asset-backed facility from September 2019 to October 2022.
Speedy Hire also shaved 0.25 per cent off interest payments on the new loan.
"We are delighted with this successful outcome which reflects our bankers' confidence in the business," said chief executive Russell Down.
"At 30 September net debt is now expected to be less than £65m, and this revised facility, with significant headroom, gives us greater flexibility to support our strategy for growth, and lowers our cost of debt."