Buying vehicles to grow

Goodwood Festival of Speed has kick off. Picture: Derek Martin

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A COMPANY has bought a fleet of vehicles as part of a bid to double in size.

Industrial Maintenance Services in Portsmouth has purchased 12 new vans to transport its engineers across the country.

Managing director Ian Brown said: ‘Some of our vans were more than eight years old.

‘We kept the vehicles going through the recession but now that business has picked up again, it is the right time to invest in replacing the fleet.’

The £150,000 investment was supported by a hire purchase facility, which allows the cost of the vans to be spread over its useful working life and paid for out of the revenue they earn.

IMS Ltd aims to double in size in five years by continuing to grow its share of the market, and is predicting revenues of over £4m for 2015, up from £3m last year.