Husband and wife team drive forward garage takeover in Bury St Edmunds
Bury St Edmunds husband and wife, Paul and Emma Bishop, have secured significant funding deal from NatWest to purchase a local car garage in the town.
The six-figure package has enabled the couple to take over the business, based in Eastern Way industrial estate, following the retirement of its former owner. It will now be called Emma Paul Ltd.
Paul brings a wealth of experience in car dealerships while Emma has a background in book-keeping.
With a 15-year lease on the property agreed as part of the deal, the pair have impressive growth plans for the garage, which will include retaining all current staff, as well as offering new career opportunities for skilled people in the local area.
The company has already appointed another member of staff to meet the high demand for services.
Paul Bishop, co-owner of Emma Paul Ltd, said: “Since taking over the new site, we’ve witnessed strong demand for the services we provide in the local area, which is pleasing to see and instills us with confidence for the future.
“After two years of business uncertainty with Brexit and Covid-19, we were somewhat anxious about the purchasing process. However, with the help of NatWest, the entire deal went very smoothly and has allowed us to really focus on our business plan, centered around future growth.”
The deal was supported by John Rolls, relationship manager at NatWest and Mark Everard from Michael’s Commercial Finance, Colchester.
John Rolls said: “The pandemic has been difficult for a lot of businesses, particularly for start-up firms such as Emma Paul Ltd. But Emma and Paul have remained calm throughout, and with the help of NatWest, we have been able to get the deal done and put the business on the right pathway to future success.
“I look forward to maintaining the relationship with the business and will continue supporting Emma Paul Ltd.’s growth. I’m confident the new business will add true value to the local area with its sought-after services.”