A fast-growing Welsh vehicle recovery business is funding the next stage in its expansion with a financial package from independent lender Henry Howard Finance (HHF).
Caldicot Fleet has significantly expanded its operations over the last five years with the help of funding provided by HH Asset Finance, a branch of HHF that specialises in funding business equipment.
Between 2011 and 2016, the Monmouthshire-based firm grew its fleet of maintenance recovery trucks from seven to sixty five trucks whilst taking the number of employees from fifteen to more than seventy.
In preparation for further growth in 2017, Caldicot Fleet have returned to the largest finance house in Wales with a new commercial opportunity.
Consequently HHF have agreed to support the company with its newest venture, ‘Auto Recovery Systems’, responsible for selling and distributing ‘Tevor’ recovery equipment, by providing vehicle finance for eligible customers and companies.
The finance facility is expected to help a number of SME’s, particularly across Wales and the Midlands, to invest in new equipment.
Gavin Edwards, managing director at Caldicot Fleet, said: “HH Asset Finance has been instrumental in the success and growth of our business. The team are responsive, friendly and understand what we are trying to do every step of the way.”
Matt Jones, head of HH Asset Finance, added: “We’re really pleased to support Caldicot Fleet in the next stage of their journey. As an independent lender we take pride in our ability to tailor financial packages to suit different needs.
“Caldicot Fleet is a great example of a strong local business that has prospered with a little help from HHF.”