Moving quickly to help a customer buy valuable equipment
An existing customer specialising in haulage was looking to expand its business. A local competitor had recently failed, opening up opportunities that could only be exploited with additional kit. The failed company’s equipment had been repossessed by its asset finance provider and the customer had identified the equipment which would enable it to service specific, profitable contracts. The principal also believed that by acting quickly, he would be able to purchase the assets at a substantial discount.
By using our industry contacts to extensively research the value of the kit, we were able to move quickly and satisfy ourselves that the price represented good value. The customer rapidly concluded a deal and with comfort in the value of the assets, we were able to be flexible in structuring the financing, requiring the customer to pay a smaller deposit and minimising the impact on his cash flow.