Powered-access hire business invests in new access equipment using Hire Purchase
Discover how a leading UK-wide powered-access hire business utilised Hire Purchase to finance £2 million worth of access equipment, strengthening their hire fleet and supporting ambitious growth plans
This nationwide provider delivers reliable powered-access solutions to businesses across the country, helping clients access hard-to-reach places safely and efficiently.
The challenge
The business recognised the need to upgrade and expand its fleet with the goal being to invest in high-quality access equipment to better serve customers and maintain a competitive edge in a rapidly evolving market.
The solution
During the Vertikal Days event, the management team met with Senior Relationship Manager, Adam Durney, from Close Brothers Asset Finance. After discussing operational goals and financial requirements, Adam proposed a Hire Purchase facility tailored to fund £1 million of access equipment.
This solution allowed the business to purchase the latest machinery while spreading the cost over a manageable period, maintaining cash flow for ongoing investment and innovation.
Following the first successful agreement, the business has purchased a further £1m of equipment from the same manufacturer, under a similar arrangement.
Impact on the business
The addition the new access equipment has transformed the business’s hire offering, enabling it to meet growing customer requirements and deliver enhanced safety and efficiency. The Hire Purchase agreement has supported sustainable expansion and improved service quality, while also generating new revenue streams from the upgraded fleet.
Adam Durney, Senior Relationship Manager, Close Brothers Asset Finance said: “Hire Purchase is just one of the ways in which we can support our customers with their growth plans. In this case, it was great to work with this powered-access hire business to purchase this new high-quality equipment. I look forward to working with them again in the future.”
The customer commented: “Working with Adam and the Close Brothers Asset Finance team has been a positive experience. Their sector expertise and flexible approach allowed us to secure the equipment we needed for our continued growth. We hope to work with Adam again in the future for any further finance requirements.”
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