BGF invests £7.5m in LCV Hire Solutions

The investment will be used to expand the company's fleet of light commercial vehicles and cars, with an aim to reach 10,000 vehicles over the next five years.

Company
LCV has 3,500 vehicles in its fleet, which are leased to corporate users. Based in Loughborough, the company was established in 2004.

People
Oliver Waring is CEO of Reflex and Charles Hart is managing director. Stewart Oades has been appointed non-executive director, joining existing non-executive director Tony Trahar. Ian Downing of the BGF has also joined the board. Paul Brindley and Joanne Smith also worked on the deal for BGF.

Advisers
Company – Brodies, Tom Boulton-Jones (Legal).
Equity – BDO, Graham Elsworth, Vinny Patel, Alex Nichol (Financial due diligence); Browne Jacobson, Mark Hughes, Christina O'Brien (Legal).

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• Topics
• Expansion
• UK / Ireland
• Support services
• BGF (Business Growth Fund)