New bank funding helps Liverpool city region property restoration specialist Forshaw Group buy a new fleet of electric vehicles. Tony McDonough reports
Knowsley-based property restoration and maintenance firm Forshaw Group has secured bank funding to purchase five new electric vehicles.
A £13m-turnover business, Forshaw works with insurance companies to repair properties damaged by fire and floods. Managing director Liam Hanlon completed a management buyout in 2013, and since then it has grown rapidly.
With the support of a £33,000 loan from Lloyds Bank, Forshaw has invested in five new electric vehicles (EVs) – making up 20% of its total fleet. This is part of its drive, announced in early 2021, to reduce its carbon footprint.
In the short term the business will use traditional vehicles for longer journeys and electric for local trips, it will gradually transition its full fleet to EVs. It is also installing solar panels to generate the power needed to charge the vehicles in-house.
Liam Hanlon said: “Championing sustainability is becoming more and more important for every business in the UK. We are no exception, and this initiative is a key step in our drive to slash our emissions.
“The team at Lloyds has been incredibly supportive, helping us make investments that will support business growth over the long term while contributing to our own ESG commitments. We’re looking forward to continuing our sustainability journey with their backing.”
Liam founded Tri4Life, a charitable enterprise, in 2000. He and a group of friends have raised thousands for charity by attempting physical challenges including swimming the Channel and cycling the full length of Europe. Earlier this year they completed their biggest challenge so far – climbing to the summit of Mount Everest.
Alistair Pike, relationship director at Lloyds Bank, said: “Liam and his team have delivered exceptional growth over the last 10 years. They are now ideally placed to champion best practice sustainability while continuing their expansion.