All articles by Grant Collinson
Grant Collinson
Leasing is firmly in the black
The leasing industry across Europe is increasing profitability significantly. Thats the finding of a new survey by industry body Leaseurope. The Leaseurope Index, which is based on a quarterly survey of 17 companies in the European leasing and automotive rental industry, builds on previous volume-based research by focusing on value creation.
Clydesdale & Yorkshire expands asset finance
Clydesdale & Yorkshire Bank Corporate & Structured Finance (CSF) has expanded its services with the launch of a new corporate asset finance team. The new service will provide funding for a wide range of assets to mainly listed companies and large privately owned businesses.
Siemens set for Thameslink rail stock contract
The UK Governments TRSP, led by the Department for Transport, covers the delivery, maintenance and financing of around 1,200 vehicles and the construction and financing of two depots for the £6 billion Thameslink rail network upgrade. Siemens and Cross London Trains (XLT), the consortium of finance partners Siemens Project Ventures, Innisfree and 3i Infrastructure, has been selected for the multi-billion pound tender after a bidding process of more than two years
Fleet managers CLM win Arco contract
UK Fleet management company CLM has won a new contract to operate the fleet for safety equipment company Arco. Buckinghamshire-based CLM will take over management of Hull-based Arcos fleet of 296 cars and 36 vans and will be responsible for future fleet acquisitions
ING in talks to sell its Car Lease arm
ING Group is negotiating the sale of its ING Car Lease arm in a potential transaction that could reportedly be worth 4 billion. The Dutch bank confirmed the sale of its vehicle leasing unit was a possible option and said it was reviewing strategic alternatives for the division. A spokesperson for the bank stressed in a statement released today negotiations may or may not lead to a deal
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GE Capital said to be in talks for RBS car leasing
RBS have put Lombard Vehicle Management up for sale with GE Capital rumoured to be in negotiations for the purchase. The 84% tax payer-owned bank intends to sell the vehicle management unit as part of their ongoing commitment to reducing their balance sheet by shedding non-core assets The sale will include car and van leasing arm Lombard Vehicle Management only and RBS will retain the remaining Lombard businesses.
Invoice finance outgrows other lending options
The Q1 report by the industry body Asset Based Finance Association (ABFA) shows the total lent through invoice financing grew 9% to March 11 compared with a contraction in wider bank lending of 2.5%. Leasing and hire purchase grew 8% over the same period according to a report from the Finance and Leasing Association published last month revealing a trend in the growth of alternative funding models
Lloyds TSB provide finance deal in 24hrs.
Lloyds TSB Commercial Finance has provided an asset finance facility for Newton Abbot-based groundworks firm Tanner and Bruce. Lloyds TSB to helped fund the capital outlay for a new excavator which Tanner and Bruce required to fulfil a series of new contracts
Lombard to provide £4.5m to bottling firm
Lombard Asset Finance has struck a deal providing £4.5 million of funding to European bottling company Envases. Envases secured the deal to help it procure a new £8.5 million state-of-the-art production line at its West Glamorgan manufacturing plant. RBS subsidiary Lombard will provide a four-stage payment to the manufacturer, which also has operations in Spain and France, to facilitate the purchase.
Recruiter Opus Mitchell takes 20% stake in broker
Financial sector recruitment firm Opus Mitchell has taken a 20% stake in asset finance and leasing company Associated Commercial Finance (ACF). ACF is an independent finance broker providing asset and leasing finance and commercial banking facilities specialising in the commercial vehicle and construction sectors. A subsidiary of Opus Group, Opus Mitchell specialises in recruiting for the asset and invoice finance industry and has recruited for ACF in the past.