Car distributor to step up a gear with funding boost

A Liverpool-based vehicle distributor is accelerating its growth after securing new funding.

Harris Maxus has received a £150 million wholesale finance facility from Lombard to support ambitious expansion plans across the UK and Ireland. 

Part of the Harris Group, Harris Maxus currently distributes around 10,000 vehicles a year through its dealer network, generating annual turnover of between £150 million and £200 million. 

Bosses say the funding will help the business double annual vehicle sales within three years while strengthening its position as one of the UK’s top five light commercial vehicle brands.

They add the new facility will allow the business and its dealers to hold higher levels of stock while maintaining strong cash flow, using a flexible unit stocking solution secured against individual vehicles.

The funding is also expected to support Harris Maxus’s growing focus on electric vehicles. 

Since launching six years ago, the distributor has played a key role in EV adoption, supplying around 2000 electric vans annually to sectors including food retail, logistics and utilities.

Emma Moriaty, finance director at Harris Maxus UK, said: “This funding marks a significant milestone for our business. 

“The support from Lombard gives us the scale and flexibility we need to grow our dealer network and increase vehicle availability at a time when demand for electric commercial vehicles is accelerating. 

“Lombard’s innovative finance solutions allow us to invest confidently in our future, while helping more businesses make the switch to sustainable transport.”

Tom Smith, head of strategic accounts at Lombard, added: “Harris Maxus’ commitment to introducing high-quality electric vans and buses is helping businesses of all sizes reduce their carbon footprint. 

“We are delighted to provide the funding structure that will enable the team to achieve their ambitious growth plans and cement their place as a leading LCV brand.”

Looking ahead, Harris Maxus plans to broaden its zero-emission offering with the introduction of electric coaches and buses to the UK market. 

The expansion is expected to create between five and ten new jobs across the company and its dealer network as demand continues to grow.

Andrew Kilheeney, managing director, Lombard – wholesale and specialist businesses, added: “At NatWest, we are focused on supporting businesses that are driving sustainable growth and innovation across the UK. 

“This deal reflects our wider ambition to grow and help UK industries to decarbonise, create jobs and strengthen local economies through targeted investment and practical tailored financial support.”

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