West Wales farm expands with the purchase of a wood pellet cooling unit
D Lloyd Thomas & Co is a well-respected 356-acre former dairy farm in West Wales, ran by father and son Rhys and David Thomas.
The farm offers several services, including cattle rearing and supplying meat to supermarkets, a biomass heat processing plant and woodchip production.
An expansion opportunity
With escalating demand for ENPlus certified wood pellets, D Lloyd Thomas & Co identified an expansion opportunity. To produce these certified wood pellets, the farm needed to purchase a wood pellet cooling unit and for help funding this purchase they approached Gareth Price, Regional Sales Manager for Close Brothers Asset Finance.
The perfect product
Gareth worked with Rhys and David to understand the farm and its needs. Using his extensive experience, Gareth suggested refinancing some of the farms existing assets to release the necessary capital. Utilising a Sale & HP back product, D Lloyd Thomas & Co were able to refinance their existing assets, releasing the funds to help them purchase the wood pellet cooling unit.
A successful agreement
With the assistance of Gareth Price, the farm was able to acquire the unit. This strategic expansion not only enabled the farm to meet the surging demand for ENPlus certified wood pellets but also helped the farm to secure a prominent position in the market.
Gareth Price commented: "It was great to work with Rhys and David on this agreement. With this tailored package, the farm was able to purchase the wood pellet cooling unit, expanding their business further. I look forward to working with them more in the future on further agreements."
"Gareth and the team at Close Brothers Asset Finance were a pleasure to work with. The funding solution not only helped us acquire the wood pellet cooling unit but also positioned us for sustained growth in meeting the market demand for ENPlus standard wood pellets. We would like to work with Close Brothers Asset Finance if we required finance in the future." Rhys James Thomas, D Lloyd Thomas & Co
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