New business and six new jobs created thanks to £7.5m finance package

hsbc-ospreyA new business has been created thanks to a £7.5m finance package.

Portishead-based heavy transport business Osprey has created a new specialist lifting business called Osprey Heavy Lift as part of a joint venture supported by a £7.5m finance package from HSBC.

Osprey, which specialises in marine heavy transport, has joined forces with land heavy transport specialist Allelys, based in Redditch, to create Osprey Heavy Lift.

The new venture will provide customers in industries requiring major heavy lifting, such as construction and power generation, with a combined service.

The development of the new company is expected to create six new jobs at the business’s Portbury site, near Portishead.

Nigel Fletcher, Osprey Maritime Group Managing Director, comments: “This deal and the development of Osprey Heavy Lift marks a major milestone in the future of our and Allelys’ businesses.

“The team from HSBC worked quickly to get to grips with our joint venture and provide the finance we needed to purchase the equipment which will allow us to tender for major civil construction projects such as HS2.”