A £1.7 million finance deal with Bank of Scotland has helped Berwick-based Perryman’s Buses take over routes in the Borders.
Following the collapse of Jedburgh-based Munro Buses, Perryman’s has taken over five routes across the Borders, linking Edinburgh, Jedburgh, Kelso, Galashiels, Duns and Berwick railway station.
The finance deal with Bank of Scotland has also enabled the firm to create 27 new jobs and purchase a fleet of 12 new buses.
The funding has also helped Perryman’s set up a new depot in St Boswells. Since securing the deal, the majority of the company’s new Scottish Borders Council local bus contracts have been run from the new depot.
The family-run company is now planning to increase its £2.6m annual turnover by 36% in the next 12 months as a result of its latest investment.
Richard Perryman, director at Perryman’s, said: “This significant investment in our services has given us the confidence and financial ability to develop the business and deliver a greater choice of regular bus routes to the local communities we serve.
“We’re proud to have opened our second depot in St Boswells and particularly pleased we have been able to take on 27 new staff.”
Brenda Alexander, reltionship director at the Bank of Scotland added: “Reliable public transport is vital to rural communities and Perryman’s is a great example of a family-run business which has been able to support this sector successfully.
“The company has become one of the Borders’ great business success stories and a well-recognised brand on the region’s roads by regularly investing in its services, staff and fleet.”
John Lamont, MSP for Ettrick, Roxburgh and Berwickshire, added: “The new depot will give a welcome boost to the local economy.
“The investment in new routes and buses will help to improve the service offered to Borders residents.”