Barclays Corporate Asset Finance (BCAF) has signed a multi-million pound deal with Eddie Stobart Ltd, a UK-based road haulage company.
The investment includes two arrangements to fund skeletal and curtain-sided trailers, at a total of 265 units, and a cost of more than £5 million (€5.7 million).
The deal was coordinated by BCAF in Manchester, led by Stirling Hulme, who is a regional sales director. The aim is to provide funding for Eddie Stobart to make a major addition to its trailer fleet.
Hulme said: “While I have known Eddie Stobart Ltd for many years and have been involved in some exciting projects, the core of the business will always be on the UK’s road network.
“It is always satisfying to know that we have been able to work with a customer to provide a mutually acceptable solution to assist in further expansion – especially with such a well-known and respected brand as Eddie Stobart.”
Ben Whawell, Chief Financial Officer, Stobart group added: “At Stobart Group we constantly strive to provide the best logistics solution to our customers.
“This funding will allow us to make continued significant investment in our fleet and ensure our industry-leading fleet utilisation and sustainable distribution services are maintained.”
Operating from more than 40 sites across the UK and in continental Europe and Ireland, parent company Stobart Group Ltd has operations in the multimodal freight, logistics and warehousing sectors.
Haulage brand Eddie Stobart already holds a large fleet of vehicles, totalling 1,850 tractor units, as well as holding more than 6 million square feet of warehousing.