Lloyds Bank Commercial Banking has provided a multi-million pound funding package to leading transport consultancy firm, Transport Research Laboratory (TRL). The deal, which takes the form of a revolving credit facility, supports TRL’s strategic aims of growth and enterprise value creation over the next three years.

The funding package is designed to help TRL achieve its strategic vision of creating the future of transport and mobility. Examples of TRL’s innovative work include pioneering research into driverless vehicles for the GATEway project (Greenwich Automated Transport Environment), dynamic wireless power charging for electric vehicles and major road safety initiatives.

The financial support will enable TRL to meet the cost of future strategic acquisitions, while also funding the creation of new jobs within the business and strengthening the company’s export offering into its chosen markets.

Rob Wallis, chief executive at TRL, said:

“TRL has been highly regarded for many decades for its independent, evidence-based research and world-leading innovation in the transport and mobility marketplace. As a knowledge-based business, we continue to build high performing teams that push the boundaries of creativity and evidence-based thinking.”

“We have an ambitious plan for the next three years, so it is imperative that we have the financial resources in place to support the company as we continue to grow. The agreement with Lloyds not only provides us with flexible financing facilities and services, but a strategic business relationship, enabling us to execute our growth plans with greater confidence.”

Peter Jackson, relationship director at Lloyds Bank Commercial Banking, added:

“In addition to its global footprint, TRL has established itself as a strong regional name within Berkshire. Through its research and work with leading private and governmental organisations, TRL is playing a frontline role in shaping the future of the transport sector. We are pleased to be able to support the leadership team’s plans with this new funding package and I am confident that TRL’s global influence and regional impact will only become stronger.”

Originally set up in 1933 by the UK Government, TRL was privatised in 1996 and has since matured into a fully independent, private business with 320 employees and a client portfolio spanning 145 countries. Headquartered in Berkshire, TRL has offices in Scotland, Wales and England, alongside international branches in high growth Middle East Markets. Its key areas of work include intelligent transport systems, transport safety, infrastructure design and maintenance, vehicle safety design and testing, human factors assessment and incident investigations.

TRL works internationally with organisations such as the World Bank, Department for International Development and the European Commission, as well as UK transport stakeholders such as Highways England, Department for Transport and Transport for London. The firm also provides expert research, advisory services and solutions to private businesses in the Automotive, Motorsport, Insurance and Energy sectors.  Using Lloyds Bank’s funding, TRL will build on this portfolio and strengthen its international reputation in creating the future of transport and mobility.