HSBC’s Yorkshire Corporate team has provided funding to support Yorkshire-based Renew Holdings’ acquisition of Lewis Civil Engineering Group.
The deal was led on behalf of the bank by Senior Corporate Banking Manager Neil Abbott and further strengthens HSBC’s relationship with the customer.
HSBC previously funded Renew Holding’s 2011 acquisition of Amco and provides ongoing working capital facilities to support the company.
Lewis was founded in 1984 and specialises in the construction and maintenance of infrastructure and assets within the water industry.
It is a well-respected brand in its region and market with clients including Wessex Water and Dwr Cymru Welsh Water.
It provides its services through framework agreements and employs approximately 175 highly skilled personnel.
HSBC’s Deputy Head of Corporate for Yorkshire Mike Swift said:
“Renew is a company we have worked with since 2010 and during this period we have funded two acquisitions.
“It is an acquisitive company with both a strong business model and management team, and we have been pleased to have been able to support the firm with its purchase of Lewis Civil Engineering.”
“We are generally seeing an increase in activity from corporates in the Yorkshire region across a number of sectors.
“Whilst it is too early to say that confidence has fully returned, this is a positive development and will hopefully feed through to a strengthening Yorkshire economy.”