Daily News: April 1, 2015

Santander Finances $1.39MM for Construction Equipment Retailer

Promac Solutions, a retailer of construction and earth-moving equipment, is to expand its operations, set up new mobile workshops and hire additional staff following £1.3 million ($1.39 million) in funding from Santander.

The funding from Santander will be used to increase stock and facilitate the company’s growth strategy. Part of this will be expanding the mobile workshops above the existing 10 already in place, hiring additional staff and expanding to an additional parts and service depot in North Kent.

Paul King, relationship director, Santander, said, “We’re delighted to be able to support such a successful and well-run company which is set for a period of strong growth. The three founders have developed a very solid business model as a trusted distributor of Doosan and I have no doubt that in the coming years they will achieve their goals of becoming a £60 million business.”

To view the full Santander news release, click here.