Defender specialists secure £2.3m funding
By Jordan WilliamsSecure Trust Bank Commercial Finance has provided a £2.3m finance facility to a specialist vehicle engineering business
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North Yorkshire-based Twisted Automotive specialises in re-engineering new and used Land Rover Defenders.
The model – which ceased production in January 2016 – had the longest-running production of any Land Rover vehicle.
Twisted Automotive needed the funding to refinance the remainder of the 240 Defenders purchased from Jaguar Land Rover as part of the final production run.
The firm – which has 23 employees, including six engineers – plans to expand overseas following the purchase of the last Defenders.
John Gribbon, regional director at Secure Trust Bank Commercial Finance, said: “Twisted Automotive’s business model is founded on igniting the passion of petrol heads around the world, restoring and upgrading one of the most iconic vehicles ever produced.
“By working closely with the management team at Twisted, and understanding the needs of the company, we were able to create a package that satisfied [its] requirements.
“It is great to be backing a proud Yorkshire business as it expands nationwide.”
Charles Fawcett, founder of Twisted Automotive, added: “My passion for the Defender derived from my father, who has been involved in the repair and restoration of the vehicles since the 1970s.
“With time running out on production, in 2015 we spotted a unique opportunity to increase our inventory and introduce pre-built versions of our vehicles, which helped us tackle the long waiting list and boost our revenues.
“With this new financial strength, we can look at expanding overseas and ready ourselves for a potential launch of a new Defender model in 2019.”
Keywords: Bridging finance, commercial finance, specialist lending, specialist finance facilities, Secure Trust Bank Commercial Finance, Twisted Automotive, Land Rover Defenders, John Gribbon, Charles Fawcett, Yorkshire, vehicle engineering