Announcing the launch of Construction Plant Finance Ltd
New company dedicated to the provision of finance solutions for the UK construction industry
A NEW finance company dedicated to the provision of competitive and flexible finance solutions exclusively for the UK construction industry launches this month (May 2018).
Significantly, Construction Plant Finance Ltd, headquartered in Hampshire, fill a 20-year gap in the construction sector, being the first independent finance company to be introduced solely for the construction plant and equipment sector since 1997 that is neither owned by a bank nor linked to a manufacturer.
However, while the company may be new, the team behind it has decades of experience within both asset finance solutions and the construction industry.
Construction Plant Finance (CPF) is a joint venture between the long-established names of SKM Asset Finance Ltd and Corporate Asset Solutions Ltd, bringing together the collective expertise, management and operational skills of both finance businesses.
‘We are really pleased to be in a position to launch a dedicated, truly independent finance company for the construction plant sector,’ said Steve Moody, director of CPF and SKM Asset Finance, who has over 30 years’ experience in the industry.
‘The team at Construction Plant Finance has a thorough understanding of the industry and, unlike some lenders, speaks the ‘customer’s language’. The specialist strengths of both businesses behind CPF complement each other perfectly from both a sales and operational perspective.
‘We feel the timing is right to support the construction sector with specific solutions, giving customers even greater choice when it comes to financing plant and equipment.’
Corporate Asset Solutions, a privately owned and award-winning finance and leasing company based near Southampton, will bring their resources and innovative lease-management systems to CPF. They will be responsible for all back office and operational activities, ensuring that CPF are well placed to provide swift decisions on transactions.
Construction Plant Finance will trade as a separate entity alongside the existing companies and provide a distinct offering to customers through a range of robust asset finance options tailored specifically to the fluctuating needs of the construction industry.
Options will include hire purchase, finance lease, operating lease and contract rental specifically for financing construction plant, with competitive solutions available for both standard plant (dumptrucks, excavators etc) and more specialist equipment (eg vacuum excavators and cranes).
The company will also be offering ‘green finance’ to meet the evolving demand for electric and solar-powered construction equipment, which can range from electric excavators and dumptrucks to solar-powered lighting towers and welfare units.
These are traditionally more expensive to buy than their diesel-powered counterparts, but CPF say they will offer competitive and flexible finance options to make the purchase of this type of equipment more affordable and cost-effective.
