Bucking the trend
Success is never guaranteed, but after a period of sustained growth combined with shrewd investments, our customer needed support to move to the next level.
This is how the Print team at Close Brothers Asset Finance funded a new printer to help them meet their growth ambitions…
Customer background
Our customer is a long-standing independent and innovative print business based across multiple sites in the UK who have invested heavily in printing machines and new technology over the past few years.
Having grown substantially, they offer a variety of services for their local and international client base.
Opportunity
Following the closure of a competitor, our customer was overwhelmed with new contractual work and was struggling to service their clients following a spike in demand.
They identified the need for a new machine to increase both efficiency and output.
Solution
We agreed funding over five years (60 payments) for a used high-speed print press - secured against a variety of standard assets – replacing an older machine that was costing a significant amount in maintenance and parts.
Outcome
The new machine was delivered on time and has resulted in a significant increase in capacity with no increase in monthly outgoings.
It has been close to twice as efficient and enabled our customer to maximise output more efficiently and more cost effectively.
Nick Aust, Sales Director for the Print team: “Having worked with this customer for many years, we sat down and discussed an ‘ideal scenario’ that would not only assist with increased post-pandemic demand, but also manage monthly outgoings.
“This was particularly necessary with the supply chain impact on cash flow, combined with the increase in energy costs. This new deal facilitated the purchase of new and more productive equipment while generating cash and lowering monthly outgoings, which has resulted in huge top and bottom line benefits for the client.”
