Plant hirer Hawk soars with £8m funding

Aaron Morby 9 years ago
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Shropshire-based Hawk Group has secured £8m funding to invest in new plant and its expansion.

Mike Hawkins, chief executive of Hawk, prepares to expand  £70m turnover business
Mike Hawkins, chief executive of Hawk, prepares to expand £70m turnover business

The investment from the Business Growth Fund, a £2.5bn fund supported by the UK’s five biggest banks that backs small and medium-sized companies, also see the appointment of former chairman of Aggregate Industries Bill Bolsover as non-executive chairman of the Shropshire-based hirer.

Mike Hawkins, chief executive of the £70m turnover group, said: “We have created a solid customer base and opportunities to scale-up even further.

“Given the level of investment in large scale infrastructure projects and housebuilding, the needs of our customers will increase as they themselves take on more work.

“Bringing BGF on board means that we are extremely well placed to keep ahead of this increased demand. We are also delighted to welcome a Chairman of Bill Bolsover’s quality to the board.”

Founded in 1974, Hawk Group has been involved in major UK infrastructure projects including the building of the Olympic Park, the Channel Tunnel Rail Link and Crossrail.

Today, the business employs nearly 500 people and operates a modern construction fleet of more than 2,000 items including excavators, dump trucks, telehandlers and bulldozers.

With the addition of BGF’s funding, Hawk Group will continue to develop its fleet and respond to the ever increasing demand for plant hire and construction services, which is expected to be fuelled by investment in major UK infrastructure projects and an increase in housebuilding across the country. Hawk is also extending its services into sectors such as quarrying.

Jon Earl, an investor at BGF who joins the board of the Hawk Group as a non-executive director said: “BGF exists to help established UK businesses and entrepreneurs reach their full potential by removing or reducing barriers to growth. As a minority, non-controlling partner, we focus on finding strong management teams and business owners that want to accelerate growth.”

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