SHAWBROOK Bank has provided £2.2m in funding to Scottish road haulage firm Monarch Transport Ltd to help support the company’s new owners pursue growth plans following their recent acquisition of the business.
Joint managing directors John Weir and Derek Anderson completed the management buyout of Monarch in September 2018, taking over leadership from founder David McFarlane who started the company in 1989 and demonstrated commitment to innovation in 2001 when Monarch became one of the founding members of Palletforce, the pallet distribution network that now covers more than 24 European countries.
Derek Anderson said, ‘Shawbrook has the capability to provide a range of flexible funding solutions and we are delighted to have their support at such an important juncture in the lifecycle of Monarch Transport Ltd.
‘We’re continuing to expand our services while also reducing our carbon footprint and maintaining a sustainable approach to business. The support from Shawbrook will help us to achieve our goals.’