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Sale and HP Back - Nithcree Training

Nithcree trainig case study

Nithcree Training is a well-established, family run, haulage company that has successfully diversified into LGV training. The business has grown steadily over the past few years and now has training centres in Dumfries, Huntly and Carlisle serving Scotland and Northern England. To maintain the organisation’s high standards, only the highest calibre of trainers and instructors are recruited to offer training either from their clients’ base or from their mobile classroom and training vehicle.

And having worked hard to grow Nithcree Training into a market-leading HGV training centre, Directors Geoff and Elizabeth Campbell have used their detailed knowledge of the industry’s regulations to campaign with the Scottish Government to have the haulage industry recognised as a key employer in Scotland.

Continued financial support

Like many businesses caught up in the economic crisis of 2008, Geoff and Elizabeth needed finance to support their fleet. Fortunately, because of a long-standing relationship with Close Brothers Asset Finance – who continued to lend strongly to SMEs during the recession – they received the support needed to expand their operations.

Financial decisions were made quickly and speed of service was paramount in supporting Nithcree, who used the Sale and HP back product to raise capital for ventures unsupported by the banks.

Close Brothers’ detailed understanding of both Nithcree and the industry led to a structured deal that offered a VAT deferral to support cash flow and allow the customer to retain ownership of the asset at the end of his agreement.

Expansion plans become reality

Geoff and Elizabeth Campbell now employ ten fully qualified trainers, and with their strong connections in the large hauliers – coupled with their industry experience - they are well placed to face the demands of a more regulated industry.

Geoff Campbell commented: “Through the financial support received by Regional Sales Manager, Scott Jack, and the team at Close Brothers Asset Finance, we have been able to access new customers by offering a comprehensive fleet of training vehicles.  The fact we received the support and guidance to grow our business during economic uncertainty is testament to our close working relationship.”