Birmingham-based Rotala Plc, has received £11m in facilities from the Royal Bank of Scotland Corporate & Institutional Banking (RBS CIB). The finance will support Rotala’s aim of continuing to grow both organically and by acquisition.
The group operates from a network of six depots across the West Midlands, North West, South West and Heathrow and carries around 35 million passengers annually under a variety of brands including Diamond Bus, Wessex Connect, Flights Hallmark and Preston Bus.
Simon Dunn, CEO of Rotala plc, said: “In the relatively short time we have been dealing with RBS they have proven themselves to be a supportive partner. The agreed suite of increased and flexible facilities will help us to deliver on our short and medium term strategic objectives, as well as allowing us to respond quickly to future opportunities.”
Ben Dawson, Structured Finance, Corporates, RBS CIB, added: “RBS is delighted to support Rotala by providing a new facility suite. This encompasses a significant increase in facilities to underpin Rotala’s growth strategy. Simon and his team have continued to deliver a strong performance, despite headwinds in the sector, and are well positioned for the future.”