A South Manchester solicitor, a specialist personal injury law firm, has secured a £17m funding deal with Royal Bank of Scotland.
Established in September 2000 by Managing Partner James Maxey, Express Solicitors has enjoyed rapid growth and expansion to date, with annual fee income currently amassing £12m. The new funding deal is set to support the company as it focuses on achieving its strategic growth aspirations of securing a 60% increase in fees, amassing to £20m, by 2021.
Based in Northenden, near Manchester airport, Express Solicitors is an award winning Top 200 UK law firm that specialise in every area of personal injury claims including employer’s liability, road traffic accidents, serious injuries, clinical negligence, occupier’s and public liability.
Royal Bank of Scotland has agreed a £17m funding deal with the firm comprising of working capital and loan facilities.
South Manchester solicitor James Maxey, Managing Partner of Express Solicitors said: “Our business is continuing to go from strength to strength and we are expanding rapidly. We have a very strong growth strategy in place for the next five years and are focused on achieving our goal of £20m annual fee income.
“The funding package we have secured with Royal Bank of Scotland will provide us with day to day working capital support, enabling us to focus on the growth of the business without having to compromise on other areas.
“We have worked with Royal Bank of Scotland for 16 years now and feel that we have had excellent support from the bank throughout our history. Steve and the team have become very involved in our company and understand the industry well. They identify with our goals and strategy and have worked closely with us to develop a package that will support us as to achieve our objectives.”
Steve Taylor, Relationship Director at Royal Bank of Scotland said: “We really enjoy working with James and the team at Express Solicitors. The South Manchester solicitor firm have had great success in the last 16 years, driven by a very clear growth strategy and we are pleased that we have been able to support their growth with another funding package.”