Pochin agrees £15m RBS facility

The Cheshire-based construction and property development company, has agreed a new credit facility with Royal Bank of Scotland.

The announcement followed the recent take-private of the business, led by chief executive James Nicholson. The bid was confirmed as unconditional in July this year.

The facility provides £15.2m of investment and working capital. RBS is the sole provider.

Nicholson said: "We believe strongly that the take-private of Pochin was a key step in helping us prepare our business for a period of sustained investment and growth

"Our new facility with RBS allows us to move forward in exciting market conditions, whilst continuing with the values forged over 80 years as a business noted for quality and service."

Karen Johnson, head of real estate at RBS Manchester, said: "Pochin is exactly the type of growth business we look to work with. Its heritage, proven track record and future vision is an optimum mix."

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