Enquiry

Plant Hire Business

April 2012

We were approached by a specialist plant hire company that was looking to expand from a regional operator to a national operator. They required business funding solutions to supplement their cashflow along with finance to purchase new equipment to facilitate their expansion.

Due to the specialised nature of their assets not all lenders had an appetite to provide funding. Some lenders had even turned down funding because our client was looking to grow! We understood their ambitions and wanted to assist in sourcing suitable types of finance.

Because of our knowledge of the market we were able to refinance some of their existing hire stock which released cash into the business. This allowed them to continue with their growth strategy. We also secured funding lines with specialised lenders to provide asset finance to allow them to fund the purchase of new hire stock.

In addition we sourced additional cash flow finance. We sourced an invoice discounting facility which provided the necessary cash flow funding to support the business expansion.

With the funding now in place they are looking to grow their turnover from £2.5m a year to over £4m.