New Sany excavators funded through Finance Lease – TPH Plant Hire Ltd
TPH Plant Hire Ltd is a well-established plant hire company based in Northfleet Kent. The company was established over 30 years ago by Paul Newman and they offer a large range of equipment for hire including excavators, dumpers and breakers
Expanding the offering
Paul wanted to purchase three new Sany SY35U excavators for his fleet of hireable equipment. The SY35U excavator is a desirable asset as it has compact dimensions but a great level of power, making it the perfect excavator for construction sites and in particular smaller demolition works.
In order to fund this purchase, Paul approached Alan Brown, Regional Sales Manager for Close Brothers Asset Finance. Alan was able to work with TPH Plant Hire Ltd to understand the requirements of the business so he could put together a finance solution.
Alan suggested a 48-month Finance Lease agreement for the three Sany excavators. This agreement allows TPH Plant Hire Ltd to rent out the excavators without having to purchase them outright and allows the business to spread the cost further as well as giving them options at the end of the agreement.
A growing fleet
As a result of Paul utilising a Finance Lease agreement for the three new Sany excavators through Close Brothers Asset Finance, TPH Plant Hire is now able to hire this equipment out. This has allowed the fleet to grow as well as increase their offering which will in turn boost their turnover.
Alan commented: “It was great to work with Paul at TPH Plant Hire Ltd on this deal. A Finance Lease agreement is a great way to get the asset you desire whilst leaving yourself with plenty of options at the end of the agreement. I look forward to working with Paul on writing more deals in the future.”
“Alan and the whole team at Close Brothers Asset Finance have always been very supportive. With this particular agreement, Alan understood our requirements and delivered the deal we needed. We would certainly work with Close Brothers Asset Finance again.” Paul Newman, Director at TPH Plant Hire Ltd
