RBS financing package for expanding Midlothian business

Royal Bank of Scotland has provided a financing package to help a Scottish waste and construction services company to further expand its business.

Dalkeith-based NWH Group has secured a £7 million finance facility from RBS to help the company fund future acquisitions as it aims to grow its operations across Scotland.

Last year NWH acquired the business and assets of DJ Laing’s waste management operations in Dundee for an undisclosed sum. Since making that acquisition, NWH’s business has gone from strength to strength with the company projecting turnover to rise in its latest financial year (year ending 30 September 2016) from £22 million to £28 million, accompanied by a significant rise in profits.

With roots in haulage stretching back to 1953, providing lime-spreading services to local farmers, NWH Group shifted its focus towards waste management and construction services, becoming one of the industry’s market leaders in Scotland. The company now employs around 240 people at its Midlothian head office and across three additional sites in Edinburgh, Glasgow and Dundee.

NWH, a customer of the bank since 1967, recently put its banking requirements out to tender and opted to remain with the bank when they came up with ‘the right solution’ to provide financial support for its existing growth plans.

NWH managing director Mark Williams, said: “We have had a positive, open relationship with Royal Bank of Scotland for nearly 50 years now. When push comes to shove they have always been there to support us and they certainly helped the business steer through some of the challenges of the last recession.

“This new financing package which RBS has put in place underlines its understanding of the company and is the right solution to help support further growth and expansion of our business across Scotland.

“Following last year’s purchase of DJ Laing, we are growing our business and find ourselves on a very stable financial footing. We see opportunities on the back of recent environmental legislation to grow both organically and through further acquisitions. We are currently looking at a number of potential companies which complement our existing lines of business.

David McIntosh, relationship director at Royal Bank of Scotland, said: “NWH is a business which has successfully traded and diversified its operations over more than six decades. The current financial performance underlines the strength of the existing management team and its plans to take the business to great things in the future. We are delighted to be working alongside its team, supporting this exciting journey.”