Driver Hire Secures Refinancing to Invest in the Future Growth of Its Franchise Network

Driver Hire, a leading player in the UK’s specialist recruitment sector and part of Specialist People Services (SPS), has finalised a significant group-wide refinancing with Virgin Money. This new agreement brings a more flexible financial structure, positioning the business for sustainable long-term investment and further development of its extensive franchise network.

Strengthened Platform for Expansion

The refinancing was secured following a competitive banking process, underscoring the financial health and credibility of the Driver Hire brand. The updated funding arrangement will specifically support ongoing investment in franchisee support, technological innovation, and the expansion of Driver Hire’s network into both existing and new regions.

Driver Hire’s track record is well established. Founded in 1983, the group has built the UK’s largest network of temporary driver providers, combining robust local ownership with strong national systems and backing. Over the years, this model has earned frequent recognition, including awards from the British Franchise Association and Elite Franchise.

Endorsement of a Proven Franchise Model

Driver Hire has reported record revenues and continues to see growing customer demand. The successful refinancing is viewed as a strong endorsement of the franchise system and its underlying business fundamentals.

Chris Chidley, Chief Executive at Driver Hire, commented, “This is a positive step for Driver Hire and for our franchise network. It reflects the quality of the model we have built over many years, gives us greater capacity to invest in support, capability and future expansion, and represents a significant endorsement of the Driver Hire brand.”

Chidley also highlighted the business’s momentum across all markets, adding, “It also reflects the broader strength of the business, including the continued success of our Australian operations. We see significant opportunity ahead and remain focused on helping franchisees grow strong, valuable businesses.”

Bank Perspectives on Future Growth

Virgin Money has expressed strong support for the transaction and the underlying growth strategy. Steve Roe, Senior Director at Virgin Money, noted, “We are delighted to continue our support of the SPS Group through this refinancing transaction, which will deliver significant benefits to the group and will provide a strong platform to support future growth. The business continues to go from strength to strength, backed by a strong management team, and we are pleased to support the group in the next stage of its development.”

Focus on Franchisee Success

By securing flexible funding and reinforcing its commitment to technology and franchisee support, Driver Hire is building a stronger foundation for franchisees to grow their operations. This transaction is set to fuel ongoing innovation and ensure reliable service for clients, further solidifying Driver Hire’s position as a leading recruitment franchise in the UK and abroad.