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Leasing - Highland Renewable Energy Ltd

Forestry and renewable energy

Forestry professionals

Based in Inverness, Highland Renewable Energy Ltd is a sustainable forestry and energy business specialising in woodland maintenance, harvesting and wood chipping.

Operating throughout the Northern Scottish Highlands, the company has expanded rapidly since it was established in 2013.

A growth in demand

Having successfully completed a number of large projects and established a strong reputation, Highland Renewable Energy was awarded several lucrative new contracts.

In order to fulfil the requirements of these contracts, they needed to purchase new machinery and expand their workforce.

Taking their existing resources into consideration, they made the decision to obtain new forwarding, harvesting and wood chipping machines alongside additional support equipment.

Specialist funding for machinery

Having worked together in the past, Highland Renewable Energy contacted Close Brothers Asset Finance and applied for credit to fund the new machinery.

A specialist team from Close Brothers visited the company to build an understanding of their latest needs and financial requirements, and an agreement was quickly put in place.

An asset leasing facility worth over £200,000 was secured against the value of the new equipment, allowing the company to obtain the equipment alongside flexible payments arranged to suit their cash flow.

Jobs created and contracts fulfilled

With the new machinery in operation, Highland Renewable Energy have been able to successfully deliver their new contracts, growing the business while ensuring key resources are not overstretched.

The company has recruited three new staff members to operate the machinery, supporting the local economy and enabling them to complete their work in a more time efficient manner, and they are now planning for further expansion.

Robert Voics, Director of Highland Renewable Energy said: “We’ve had a really positive experience working with Close Brothers Asset Finance. The team is incredibly helpful and they took the time to really understand our business and our industry.

“The package and the turnaround time on the funding ensured we were able to meet the demands of all of our customers without any disruption. We look forward to working with them again in the future.”