Asset Alliance Group has entered the commercial vehicle rental market by launching Flexi-Hire.

This division will offer flexible medium to long-term rental packages, and has made an initial investment of £20m (€22.4m) for a mixed fleet which includes tractor units and trucks.

David Potter, Asset Alliance commercial development director, claimed that the flexible lease structure would prove suitable for customer needs.

Potter said: “With many customers now taking on contractual work for shorter periods, it’s only logical that we offer a rental proposition to suit.

“Flexi-Hire means our customers can operate high-spec commercial vehicles certified to the latest safety standards, without committing to a longer, fixed-term contract hire package or waiting months for them to be built.”

According to Asset Alliance, vehicles acquired through the Flexi-Hire programme could complement other assets supplied through the group.

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The group also stated that assets purchased through ATE Truck & Trailer Sales could be paired with assets from Flexi-Hire.

Asset Alliance secured a £75m revolving asset based lending deal in April. The group says that the deal, led by RBS and supported by HSBC, is being used for growth and future acquisitions.