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Aldermore provides cool new finance facility for cold storage company

POSTED: 30th June 2015
IN: Newsroom
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Chesterfield-based temperature controlled food services company Rick Bestwick Ltd, part of the Magnavale Group, has received funding of £4.8 million from Aldermore to support its future ambitions in cold storage and haulage.

Rick Bestwick Ltd has been run by Managing Director Kevin Hancock since 2013 and provides temperature controlled storage, distribution, and a range of other services including freezing, packing & coding, labelling and inspection of products.

Having previously worked with one of the country’s largest banks, Hancock took the decision to switch to Aldermore. He felt that Aldermore’s reputation as a growing lender with a high level of commercial acumen would ensure that his company, which has traded for over 35 years, is able to take the next step in its evolution.

Kevin Hancock, Managing Director at Rick Bestwick Ltd, said:

“Aldermore’s funding will help us to grow in a sustainable and profitable way. We want to expand the business within the UK through acquisitions and partnerships, our new finance agreement will enable us to turn this goal that a reality.

“We were drawn to Aldermore because, like us, they are an ambitious, growing businesses and most importantly, they are able to offer a greater degree of flexibility than any of the larger lenders.”

Wayne Spratt, Regional Sales Manager, Invoice Finance at Aldermore, said:

“We are delighted to support Rick Bestwick, the company has an experienced management team, exciting growth plans and excellent relationships with a number of major retailers.

“Aldermore was established to support businesses like Rick Bestwick, which are looking to access finance in order to invest and grow their business.” 

*Ends*

For further enquiries, journalists can contact:

Niamh Baker-Loughlin, Cicero Group

Phone:             020 7947 5321

Mobile:             07500 869 483

Email:              Niamh.Baker-Loughlin@cicero-group.com

Notes to Editors:
For further information about Aldermore, our financial backers and our PR contacts, please review our Notes to Editors page.

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