The asset finance arm of Yorkshire Bank (YB) has been signing
some upper middle ticket deals recently, emerging as a strong
player within its distribution range.
YB’s Manchester office recently signed an agreement to provide
£1 million (€1.1 billion) of asset finance towards the purchase of
a 500-tonne sand washing machine, for excavation and demolition
firm Grundy & Co.
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The machine, worth £1.6 million in total, separates rubble into
different grades of waste, which can then be recycled.
It is currently being assembled at Grundy & Co’s recycling
facility in Widnes, from 12 parts imported separately from Italy
and Ireland.
The deal follows YB’s provision of asset finance to a
Thermoforming facility in Gateshead, which – along with an
injection of equity from shareholders – will allow the operators to
install a second recycled PET extrusion line.
Finally, YB’s Preston office recently confirmed a third year of
asset finance funding to Lancashire car rental company Go Instruct,
which has invested more than £6 million in its fleet since
foundation.
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By GlobalDataFred Crawley
