Shropshire vehicle hire firm aims to double fleet with major new investment

Bayfield Vehicle Hire, with offices in Telford, and Shrewsbury, is set to benefit from new backing from HRM Holdings in a deal supported by FRP Corporate Finance.

Bayfield Vehicle Hire currently employs seven staff, provides car, van and minibus hire to individuals and businesses across the UK.

The deal will enable Bayfield to pursue further growth, with plans in place to expand its vehicle fleet by around 40 per cent by 2025, and to have doubled it by 2027.

The business also has funding in place to expand geographically through a combination of continued organic growth and strategic acquisitions.

Peter Mellor, managing director at Bayfield Vehicle Hire, said: “We have a strong reputation locally, which gives us a solid base from which we can pursue our growth ambitions while maintaining the quality service Bayfield is known for.

“The advice from FRP Corporate Finance was incredibly valuable. Their support at every stage helped us complete this deal in a timely manner and gives us a springboard to follow through with our exciting plans for the business.”

FRP Corporate Finance, led by Daniel Brecker and Amy Murphy, acted as buy-side advisors to HRM Holdings. The team provided negotiation support and managed all aspects of the deal from valuation to funding and structure.

Daniel Brecker, director at FRP Corporate Finance, said: “Fleet investment continues to drive overall growth in the automotive sector, with the LCV vehicle market recently recording its best performance in three years. LCV hire providers are attracting significant interest when it comes to mergers and acquisitions, including opportunities to supply the increased demand for electric vehicles.

“This latest investment in Bayfield highlights the appetite for businesses with strong fundamentals and a solid customer base. The additional funding makes it an exciting time for the business.”