GAP Group mulls fu­ture plan

The Pak Banker - - COMPANIES/BOSS -

Glas­gow-based GAP Group (GAP), the largest pri­vately owned plant and tool hire busi­ness in the UK, is set for fur­ther growth thanks to a three-year As­set Based Lend­ing com­mit­ment of up to £70m from RBS In­voice Fi­nance (RBSIF).

GAP op­er­ates in 67 lo­ca­tions across the UK and re­cently opened a new plant and tool de­pot and non me­chan­i­cal de­pot in Tewkes­bury. The £70m package from RBSIF will help GAP achieve its am­bi­tion of open­ing at least three to four new sites per year in or­der to con­tinue the ex­pan­sion of its plant and tool, non me­chan­i­cal and lift­ing di­vi­sions. The com­pany draws its cus­tomers from a wide range of sec­tors, in­clud­ing the rail and util­i­ties in­dus­tries and the pub­lic sec­tor. With a turnover of £85m in the fi­nan­cial year end­ing March 2012, it is fore­cast­ing rev­enue to in­crease by 12% to £95m for the cur­rent fi­nan­cial year. Ow­ing to their strate­gic plan­ning and im­ple­men­ta­tion, GAP has been placed on a stronger fi­nan­cial foot­ing and has grown its mar­ket share among util­ity and lo­cal author­ity clients dur­ing re­cent years.

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