£250K Hire Purchase Deal Cements New Batching Plant For Ambitious Client
The Background
Haydock Broker Relationship Manager, Adam Bamforth, was contacted by broker partner Affinity Asset Finance to assist a well-established and expanding concrete supplier with the purchase of a cement batch processing plant.
The client required a cash flow friendly solution that would allow them to spread the cost of the £250,000 investment.
The Challenge
The deal required was truly bespoke due the nature of the asset plus some of the equipment dated back to the 1990's.
The Solution
The Haydock team, including Regional Broker Manager Adam Bamforth and Senior Underwriter Tim Jones, worked with Neil Kimberley to structure a favourable deposit, 3 month VAT deferral and a 60 month term which matched the cash flow of the business. The valuation of the processing plant required a high level of expertise so Haydock's asset management team organised an onsite asset inspection with Tallon Associates to support the level of funding required.
The Result
A £250K Hire Purchase solution provided the concrete supplier with the funding to purchase the cement batch processing plant without negatively impacting their cashflow.
We chose Haydock as our funding partner as a high level of creativity and commercialism was required. Our client was thrilled that the deal matched their exact requirements.
Neil Kimberley
Owner, Affinity Asset Finance
