After working in the media industry for over 25 years, Toby Manchip, Managing Director formed Manchip3Media Limited (M3M). It is the leading recycling company for the media industry working with well-known media partners to ensure the best eco-friendly recycling or destruction service of a variety of tape formats from audio reels to high definition SR tapes. They also work closely in recycling plastics and keeping them out of the sea, backing ‘We Are The Oceans’ and ‘Sky’s Ocean Hero’.
The business was growing and to cope with the demand, Toby wanted to look at purchasing an UNTHA RS30 shredder that has the capacity of tackling thousands of tapes per day, with both environmental and cost benefits. The shredder was the perfect choice with functions such as operational simplicity, high throughputs and precision particle sizing.
Toby spoke with Untha about the best way to expand the business without affecting the company’s cash flow and they recommended Close Brothers Asset Finance to look at possible finance options that would work best for M3M.
Paul Hindle, Close Brothers Regional Area Manager for the Waste and Recycling sector met with Toby and discussed the finance options available to him. He advised that a Hire Purchase agreement for a 36-month term would allow M3M to pay for the new shredder on a monthly basis over the fixed term and tailored this to suit the business needs. At the end of the agreement, the title of goods for the shredder would belong to M3M.
The purchase of the new shredder has resulted in higher levels of recycling which has allowed the company to take on more contracts and continue to grow the business for the future.
Toby Manchip commented: “Close Brothers Asset finance helped tailor a finance agreement for our business allowing us to strengthen our business going forward by purchasing an industry critical asset.”