Wakefield's Texlogistics has acquired new premises following a six-figure funding package from brokerage Reach Commercial Finance.
The deal - including a commercial mortgage with Allica Bank - has facilitated Texlogistics' expansion into the city's Riverside Business Park - its first property purchase in Yorkshire. Reach also helped the firm navigate legal issues that arose late in the completion process.
Darren Sowden, managing director at Texlogistics, said: "We experienced a number of challenges when attempting to complete the transaction for this site - but we knew Reach would be able to provide the necessary support and give best advice. They stepped up to help us when we needed it most and we are very grateful for their assistance in getting this deal over the line.
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"The new site is exactly what we wanted and will ensure we continue to grow and provide even greater services to our clients across Europe and the rest of the world."
Phil Trueman of Reach stated: "We are delighted to be able to secure finance for a fast-growing business like Texlogistics. This is the client’s first property acquisition and is a major milestone in the company’s growth. Warehousing is at a premium in West Yorkshire and to secure this site is a major coup."
Texlogistics was set up in December 2016. Since then the firm says it has grown rapidly offering storage, distribution and sampling service for the high-end fabric, wallpaper and trimmings market.
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