BGF back Plantforce with investment for growth
South West-based heavy equipment rental firm receives £4.7 million growth capital investment from BGF
PLANTFORCE, the largest providers of heavy equipment rentals in the South West, have received a £4.7 million growth capital investment from BGF to further scale their operations. The company, whose clients include Kier, Costain, Balfour Beatty and BAM construction groups, will use the funding to support its growth plans in expansion, acquisition and geographical locations.
Founded in 1999, Plantforce operate from four depots in Bristol, Exeter, Bridgwater and Birmingham. They have one of the most modern and diverse ranges of excavator equipment in England – comprising more than 750 machines and 250 attachments.
The company is one of only a small number of contractors to hold approved supplier status for both nuclear sites and network rail. Plantforce are currently the largest suppliers of specialist equipment for the construction of Hinkley Point C nuclear power station and have already provided machinery for ground investigations at HS2.
Claire Trott, managing director of Plantforce, said: ‘This is a really exciting time for the company. We have a clear vision of the future and we’re very pleased to have BGF’s support at this crucial stage in our growth phase. The investment will not only enable us to diversify and expand our fleet, but also to continue to strengthen our service offering.’
Ned Dorbin, an investor at BGF, said: ‘Plantforce have established a strong position in the construction market as providers of exceptional quality machinery supplemented with round-the-clock customer care. Providing operated kit is one of their key differentiators and we believe the company is well positioned to capitalize on several large infrastructure projects over the coming years.’
BGF make long-term equity capital investments to support growing SMEs in the UK and Ireland in return for a minority, non-controlling stake in the companies they back. The firm invests off its own balance sheet, offering flexible investment structures with a mix of equity and loan notes as appropriate.