All articles by Grant Collinson
Grant Collinson
Rise in resell partners for UK lessor
UK IT lessor Syscap has seen a significant rise in the number of reseller partners joining through its online portal. The firm re-launched its Option One partnership programme last year as part of an upgrade to its website and has seen 60 additional IT resellers sign up since. Philip White, chief executive of Syscap, suggested the 56% rise in resell partners, now totalling 167, was down, in part, to hesitancy in the market.
New UK head for Bibby Financial Services
Invoice finance firm Bibby Financial Services has appointed David Postings as chief executive in the UK. Postings, who previously led foreign exchange firm TTT Moneycorp and has worked in senior positions at Barclays and Lloyds TSB Commercial Banking, said he was excited at the prospect of leading Bibby FS at a time of growth.
50% sales growth for MAN FS
Des Evans, UK chief executive of MAN Truck & Bus, described the German manufacturers Financial Services division as a bank that likes to sell trucks, and running that bank is the job of Peter Collins, managing director of MAN Financial Services (MAN FS). As the truck and bus company celebrated its 20th anniversary in London, Leasing Life took the opportunity to speak with Collins and get a closer look at its leasing and finance arm. Collins explains MAN FS, which enjoys a 50% penetration rate on MAN truck sales in the UK, had a bumper year in 2011 with a £50m jump in new business volumes.
The burden of office
Office equipment leasing is a 16bn business in Europe and BNP Paribas Leasing Solutions is the dominate force in the market With one new office equipment leasing transaction started every working minute, resulting in 100,000 new contracts each year, BNP Paribas Leasing Solutions holds the envious position of dominating the European market in office equipment.
Deutsche Bank leads ?118m lend for PV project
Deutsche Bank has led a consortium of four German-based banks to provide a long-term debt financing facility for a photovoltaic plant in Italy. The 118m facility has been provided by Deutsche Bank in conjunction with BayernLB, Helaba Landesbank Hessen-Thringen and KfW IPEX-Bank and is split 114m in long-term debt finance over 17 years and a 4m VAT facility over five years. Deutsche Bank provided 83m in bridge financing to fund construction of the 120 hectare Serenissima plant in the Veneto region of North-East Italy in July 2011.
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US leasing growth revised down for Q2
The eurozone crisis, combined with high oil prices, has lead to a drop in confidence in US leasing for the second quarter of the year although growth is still expected. The second instalment of the Equipment Leasing and Finance Foundation (ELFF) 2012 Economic Outlook revealed projected growth in equipment and software investment of 7%, down from the 9% predicted in December. The report by ELFF, the research arm of the Equipment Leasing and Finance Association (ELFA), identified high oil prices, uncertainty surrounding the eurozone debt crisis, and a slowdown in China and other emerging markets as three impediments to wider economic growth which have dragged down expectations.
Cassiopae goes front-to-back in Romania
BRD Sogelease, a subsidiary of Socit Gnrale, has utilised Cassiopaes back office programme for four years and, with the front office systems integrated, now uses the software to manage its front-to-back leasing functions. Vorles Morlot, general manager of BRD Sogelease, said the front office set-up would enable the lessor, which has a 10% share of the leasing market in Romania and offers financing for cars, commercial vehicles, and industrial and construction equipment, to enlarge its portfolio and become more flexible and competitive in the market.
Asset finance gives Olympic boost to taxi firm
Londons largest mini-cab company has landed a £12m finance package to help its expansion including a £6m asset finance facility. The funding from Barclays Corporate will help Addison Lee expand its 3,500 vehicle fleet in London following the firms acquisition of passenger car service Lewis Day in November. Barclays also provided a £6m revolving credit facility to the group as it gears up for a busy period during the citys Olympic Games in late July.
De Lage Landen grabs ?50m Irish lease book
Dutch lessor De Lage Landen (DLL) has expanded its presence in the Irish agricultural market with the acquisition of a 50m-plus leasing portfolio from Permanent TSB. Around a quarter of DLLs existing finance portfolio is agricultural equipment and the sector is a focus for parent bank Rabobank. In a statement, DLL valued the portfolio in excess of 50m and said it would use the purchase as a spring-board to expansion within the Irish agricultural leasing market.
Fleet Friday: Arval, Infiniti and van safety
Arval, the fleet arm of French bank BNP Paribas, recorded 3% growth year-on-year in size of fleet for 2011 to 687,000 vehicles and promises 2012 will see a focus on the quality of service and added value to customers.