Member Article

Northernden Express Solicitors secures £10.06m backing from RBS

Northernden-based Express Solicitors, a personal injury law firm, has secured a £10.06m funding package with The Royal Bank of Scotland (RBS).

The funding will support the company grow, helping to finance its strategy based on both organic and acquisition based expansion, as well as providing funding for its day to day working capital needs.

The company was established by James Maxey in September 2000 and has since enjoyed rapid growth and expansion, securing an average of 30% organic year on year growth for the last 14 years.

In April 2014, the business undertook its first competitor acquisition, a move which has given the legal firm an appetite to look increasingly at this process as a means of additional growth achievement.

Managing partner of Express Solicitors James Maxey, said: “We have had great success during the course of the last 14 years, achieving continuous growth and establishing an excellent reputation amongst clients in the personal injury industry.

“Since 2012 alone the number of cases we have on our books has risen from 2355 to 6833 which shows just how quickly our business is expanding.

“The funding package we have secured with RBS will enable us to focus on the growth of the business without having to compromise on other areas.

“It is our intention to begin to look at more competitor acquisitions as an additional means of securing growth and the funding will support this.

“Steve and the team at RBS have been fantastic and have worked alongside us to develop a package that will work with our growth strategy in the long term.

“We have banked with RBS since we first set up Express Solicitors and their support has been excellent from the start.

“In addition to funding, we have found the seminars and other events that the team host to be really useful, helping us to form positive business connections that have really benefited the firm.”

Steve Taylor, Senior Relationship Manager at The Royal Bank of Scotland said: “We are delighted that we have been able to support Express Solicitors with the funding package.

“The management team has a very clear set of objectives for the company and their success in recent years has shown just how dedicated they are to achieving these results.

“We look forward to continuing to work with the firm and to help them achieve their growth ambitions in the future.”

This was posted in Bdaily's Members' News section by Sophia Taha .