Arrow Self Drive to expand in South Yorkshire after management buyout

Vehicle hire business Arrow Self Drive has become fully family owned following a management buyout.

The deal saw managing director James Hill and Arrow founder Robert Hill sign a share purchase deal to buy former shareholder Chris Taylor out of the company.

James and Robert completed the transaction with funding from HSBC.

Arrow Self Drive will now look to expand its Yorkshire presence with the launch of a Sheffield depot that will provide short- and long-term rental services for the South Yorkshire area.

The facility will also house a four-bay workshop for maintaining Arrow’s fleet.

Co-owner James Hill said: “HSBC UK’s financial backing and guidance gave us the means and confidence to undertake this share purchase.

“We are a proudly independent family run business which means we can deliver the best in quality and service to customers across Yorkshire.”

HSBC’s corporate director for South and West Yorkshire, Lee Manterfield, commented: “HSBC UK is committed to supporting the growth of local businesses in Yorkshire, so we’re pleased to have backed James and Robert in their share purchase.

“With fresh ideas and an ambitious growth strategy, the business is well-positioned to become Yorkshire’s rental company of choice.”

Arrow Self Drive was founded in 1988. The company employs more than 80 staff at eight depots throughout Yorkshire.

Accountants Gibson Booth and law firm Keebles advised Arrow Self Drive on the deal. Duncan Shepherd, from Wake Smith Solicitors, acted for HSBC.

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.