Log supplier purchase new kiln drier with the help of Hire Purchase agreement
With nearly two decades of trading experience, Logs Direct Ltd is a recognised brand for those wishing to purchase kiln dried logs in the UK.
To keep the business moving, the decision was made to upgrade their log drying facilities to meet growing demands and enhance operational efficiency.
The business opted to purchase a Glen Farrow Log Kiln Drier aiming to replace their older facility and to bring the log drying process in-house.
A valuable long-term asset
To help fund the new kiln drier Logs Direct Ltd approached Simon Knox, Regional Sales Manager for Close Brothers Asset Finance, who had previously worked with the company. Simon suggested utilising a Hire Purchase agreement for the kiln drier.
By using Hire Purchase, Logs Direct Ltd can spread their payments over an extended period, helping them maintain good cash flow. Another benefit of this product is that the business will own the log kiln drier outright at the end of the payment period, representing a valuable long-term asset.
Reduced costs and increased profitability
With the assistance of the agreement provided by Close Brothers Asset Finance, Logs Direct Ltd have been able to acquire the Log Kiln Drier, offering the company increased productivity and efficiency. By bringing the log drying process in-house, the company has eliminated intermediaries, reduced costs, and is able to ensure control over the final product's quality.
Simon Knox commented: "Collaborating with Logs Direct Ltd on this strategic investment showcased the power of tailored financing solutions. The Hire Purchase agreement not only met their financial needs but also positioned them for sustainable growth in a competitive market. I look forward to working with this team on further agreements in the future to take this business from strength to strength."
"Simon and the team at Close Brothers Asset Finance were very easy to deal with. The acquisition of the Glen Farrow Log Kiln Drier marks a milestone for Logs Direct Ltd. This investment not only enhances our operational capabilities but also reflects our dedication to delivering top-quality kiln-dried logs to our customers, ensuring our continued success in the industry." Andrew Foulds, Co-owner, Logs Direct Ltd
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