The Business Growth Fund (BGF) has invested a further £11m into Molson Group, the independent distributor of capital equipment to the construction and waste management sectors
The investment will be used to develop Molson’s existing sites and brands, as well as to expand its international and waste management offerings.
Molson provides a wide range of equipment for the construction industry, including excavators, dump trucks and waste and materials handlers. The business is currently one of the largest suppliers of construction equipment in the UK.
BGF invested £6.3m into Molson in 2018 to accelerate growth and to explore potential acquisitions. Since then, the business has acquired Scottish equipment dealer Finlay Group, opened a new depot in Inverness, and recently been appointed Terex Trucks dealer for the UK.
The £11m follow-on investment from BGF will be used to redevelop Molson’s Avonmouth site into a centre of excellence for construction equipment in the UK and a national parts centre.
It will also be used to expand the group’s international reach, support new brands including Terex, and continue to develop Molson Green, its distribution arm for waste management and recycling equipment.
Robin Powell, managing director of Molson, commented: “We are immensely proud of the business we’ve 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’re pleased to have BGF’s long-term funding and support to help us get there.”
Paul Oldham, BGF investor who sits on the board of Molson, added: “Molson has generated impressive growth across the UK and internationally in recent years, becoming an industry leader with a strong reputation and track record.
“The team at Molson remain committed to excellent customer service through their extensive global network and strong supplier relationships and we’re delighted to be supporting them through this exciting next stage of growth.”