North Yorkshire based specialist in used luxury, performance and 4×4 cars, Alexanders Prestige Group Ltd, is set to gear up its growth plans having secured a £2.2 million funding package from Yorkshire Bank.
The company, based in Boroughbridge, incorporates Alexanders Prestige, which specialises in the sale, purchase and aftercare of upmarket cars; Alexanders Horseboxes, a manufacturer of luxury horseboxes; and Ripon-based premium car dealership Harvey Cooper Cars.
The group was founded in 2005 and recently reported its busiest July so far and expects turnover to hit £45 million later this year.
Part of the Yorkshire Bank investment will be used to grow the number of staff working across the company from 60 to 65.
Managing director Andrew North, who set up the business with childhood friend Alexander Brimelow, commented: Over the past ten years weâve grown the group steadily and while knowing your product and excellent customer service is essential, part of our success has been down to having the confidence to invest.
There are still great opportunities to grow the group on all sides and in order to meet growing demand we plan to invest in new stock and recruit about five new staff. I see Yorkshire Bank playing a key role in helping us to achieve our growth aspirations.
The team has demonstrated a real understanding of our business and a strong willingness to work with us. Theyâve also been easy to deal with and have shown a level of flexibility which we were seeking in our funding partner.
Pete Sumners, director in Yorkshire Bankâs Leeds-based specialist and acquisition finance team, delivered the deal.
Kevin Hambling, who heads up the team, added: The strong growth achieved by Alexander Prestige Group Ltd, is testament to the commitment and expertise demonstrated by Andrew and his management team. We look forward to supporting the business as it enters its next growth phase.