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Hire Purchase - Inverness Caledonian Thistle FC

Company Profile

Scottish Premier Football League club Inverness Caledonian Thistle is a well-established and reputable business based in Inverness.

Business Challenge

The directors of the company had become aware of the increasingly high costs of generating heat within the stadium when using their current boiler system. When the boiler broke down they examined other, more cost effective options.

After discussions with Korrie Renewables, one of the most prominent companies in the highlands, they decided that they should pursue the biomass boiler option as it is a cost effective method which would also enable them to benefit from the Renewable Heat Incentive, the UK Government backed financial support programme.

Solution

Amanda Close, Area Sales Manager at Close Brothers Asset Finance contacted the team at Inverness Caledonian Thistle to discuss funding. As a result of this call, Amanda met with the directors of the company to discuss potential financial packages that could benefit them throughout their transition to the new biomass boiler system.

Amanda worked closely with the team at Inverness Caledonian Thistle FC and Korrie to create a tailored deal for the company that would best meet their requirements.

Outcomes

Close Brothers Asset Finance arranged for a hire purchase structured solution to help tackle the initial cost of the new biomass boiler system.

The Hire Purchase teamed with the RHI scheme enabled Inverness Caledonian Thistle FC to set up a long term, cost effective heating system for the stadium.