Molson bills itself as the UK鈥檚 largest independent distributor of capital equipment to the construction and waste management sectors. It is back by BGF (formerly Business Growth Fund), which first invested 拢6.3m in 2018. That helped Molson acquire Scottish equipment dealer Finlay Group from Terex.
The second round of funding will be used to develop Molson鈥檚 existing sites and brands, as well as expand its international and waste management offerings.
Specifically, it will be used to redevelop Molson鈥檚 Avonmouth headquarters site into a centre of excellence for construction equipment in the UK and a national parts centre, the company said.
Molson鈥檚 turnover grew from 拢160m to more than 拢200m in the past year to September 2019. In 2016 it turned over just 拢88m.
Managing director Robin Powell said: 鈥淲e are immensely proud of the business we鈥檝e built over the past two decades and our partnership with BGF has helped us accelerate that growth and hit some significant milestones over the last 12 months. We have ambitious plans for the future, and we鈥檙e pleased to have BGF鈥檚 long-term funding and support to help us get there.鈥�
Paul Oldham, BGF investor who sits on the board of Molson, added: 鈥淢olson has generated impressive growth across the UK and internationally in recent years, becoming an industry leader with a strong reputation and track record. Robin, Jonathan and the team at Molson remain committed to excellent customer service through their extensive global network and strong supplier relationships and we鈥檙e delighted to be supporting them through this exciting next stage of growth.鈥�
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