JC Payne, which specialises in the manufacture of bodies for commercial vehicles, has received support from the Royal Bank of Scotland to acquire its existing 90,000sq ft premises in Aldridge, as well as an adjacent 40,000sq ft derelict building.
The latter will be developed to provide additional production facilities, and a number of new jobs should be created as a result.
The family-run company, which was established in 1925, was acquired by Kevan Brandrick (plus his sons Garry and Neil Brandrick) in 2009.
In 2015, it established JC Payne Specialist Services — following the acquisition of Aire Body Care, which had gone into administration — to offer a 24/7 commercial-vehicle body and tail-lift repair and breakdown service anywhere in the UK.
Neil Brandrick, managing director of JC Payne (pictured with David Robinson from Royal Bank of Scotland), said: “The acquisition is a great move for us and really cements the future of our business in the region.
“The company has performed steadily during the last few years, and we are continuing to focus on our growth strategy to secure future expansion.
“The purchase of the two premises secures our existing operations, while also providing the ideal space in which to expand when the time is right.
“The support we have received from Royal Bank of Scotland has been excellent. They completely understood the importance of securing this acquisition for our business and acted in a short time-frame to help complete the deal.”