Rotala receives £11m funding from RBS

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Rotala receives £11m funding from RBS

Rotala Plc (“Rotala”), the Birmingham-based transport provider, has received £11m in facilities from the Royal Bank of Scotland Corporate & Institutional Banking (“RBS CIB”).

Supporting corporates

21 December 2012

The finance will support Rotala’s aim of continuing to grow both organically and by acquisition.

Headquartered in Long Acre, Birmingham, Rotala is a leading regional operator of scheduled bus services and provider of private bus networks for corporates. It operates from a network of six depots across the West Midlands, North West, South West and Heathrow and carries around 35 million passengers per annum under a variety of brands including Diamond Bus, Wessex Connect, Flights Hallmark and Preston Bus.

The business has grown rapidly since it was set up via a blend of acquisition, new commercial routes and contract wins. The new financing facilities will provide headroom for Rotala to build on its success to date, including the financial firepower for further acquisitive growth.

"In the relatively short time we have been dealing with RBS they have proven themselves to be a supportive partner. The agreed suite of increased and flexible facilities will help us to deliver on our short and medium term strategic objectives, as well as allowing us to respond quickly to future opportunities."

Simon Dunn, chief executive, Rotala plc

"RBS is delighted to support the management of Rotala by providing a new facility suite. This encompasses a significant increase in facilities to underpin Rotala’s growth strategy. Simon and his team have continued to deliver a strong performance, despite headwinds in the sector, and are well positioned for the future."

Ben Dawson, Structured Finance, Corporates, RBS CIB

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