Yorkshire automotive firm boosts global growth with acquisition thanks to HSBC funding
A Yorkshire-based automotive products supplier has made an acquisition as part of its ongoing growth with the support of HSBC UK.
Bremsen Technik has acquired Remanufactured Systems Ltd (RSL) after securing a seven-figure funding package through the bank, in order to strengthen its proposition with remanufacturing capabilities for commercial vehicles.
The acquisition will see RSL’s 12 members of staff join the Bremsen Technik team, increasing its workforce to over 100 people.
The business, which has doubled in size and tripled its headcount in the last three years, expects to grow its turnover to £30m by the end of 2019 from £25m in 2018.
Robin Anderson, managing director at Bremsen Technik Holdings, explained: “Adding RSL’s capabilities to our existing services helps us increase our market share so we’re delighted to complete this acquisition with the backing of HSBC UK.
“We work on a global scale and required a bank that reflected our international reach and would enable us to unlock extra capital to keep the business on its forward trajectory.”
HSBC UK relationship director Stuart McLaren supported the firm to obtain the funding package. Stuart added: “Bremsen Technik has grown exponentially in recent years and we are delighted to help the business maintain momentum with our financial support.
“The acquisition of RSL further strengthens the business’s presence in what is a competitive marketplace. Robin and his team have high hopes for the future and we’re excited to see where this acquisition takes them.”
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