McMurray (002)

McMurrays Haulage is aiming to increase its share of the market following a £1.4m refinancing deal that will support its growth plans.

The Lancashire firm, which celebrated 50 years in business last year, is building a £1.1m extension to its facility in Accrington, providing 28,000 sq ft of additional storage, distribution and office space.

It also said it was recruiting up to a dozen drivers and administrative staff to meet increased demand.

David McMurray, McMurrays MD, said: “The transport and logistics sector is busier than ever and, thanks to our continued investment and commitment to customer satisfaction, we’re increasing our share of that market.

“Having celebrated our half a century in 2021, our focus is now on ensuring we can replicate and exceed that success over the next 50 years.

“This investment programme, which began with replacing our fleet and continues with the premises expansion, will be key to increasing that market share.”

The refinancing deal was agreed with Lloyds Bank and supported by Vincents Solicitors.

Sophie Mercer, commercial property lawyer at Vincents Solicitors, said: “Given the age and longevity of the company, this was no average transaction.

“The site has been expanded over the years leaving a complicated site set-up with multiple titles and charges.

“We structured the transaction to allow the business to refinance and transfer to Lloyds, while also protecting their property assets for the future and provide immediate access to funds as part of the firm’s investment strategy.”