Welsh car dealer WR Davies has secured £4.5 million funding for an expansion and refurbishment programme.

Welshpool-based WR Davies has secured the investment from Lloyds Bank Commercial Banking, reports Insider Media. 

The dealer group operates eight garages in North Wales and Staffordshire with the new car franchises for Ford, Renault, Citroen, Toyota and Nissan, as well as offering commercial van sales and service and repair facilities.

The business, founded in 1924, has an annual turnover of £94m and employs 249 staff.

It has now started a programme of works across its dealerships and said it was looking for opportunities to expand in its core geographical areas.

Jonathan Davies, managing director at WR Davies, said: "Our business has continued to go from strength-to-strength as market conditions improve, and in order to build on this success we chose the support of Lloyds Bank to enable the roll out of our refurbishment programme."