Close Brothers Asset Finance has provided PDM Industries with a Coronavirus Business Interruption Loan Scheme (CBILS) Sale and HP-back facility for the purchase of a mix of yellow plant, ranging from excavators to sweepers.
The funding will also be used to protect the firm’s cash flow, giving them the headroom to continue to invest and secure their future.
Based in Preston, UK, PDM Industries is a well-established business that has been trading since 1991 in specialist markets, including demolition, groundworks, civils, waste recycling, plant hire and agricultural contracting.
Simon Knox, regional sales manager for Close Brothers Asset Finance’s construction division: “I’m really pleased we were able to step up and help Pete and the team at PDM Industries. The facility allowed them to get through the difficult period of the first initial lockdown and put them in a position to continue working once restrictions had been lifted.
“This investment will mean they’re well-placed to fulfil the extra work that we’re confident will be coming their way as the economy begins to pick up again.”
Pete Marquis, the owner of PDM Industries, added: “This investment in key assets sets us up nicely for the future. The pandemic has been difficult for everyone, but we have remained positive and are looking forward to the day when things start returning to normal.
“As always With Close Brothers Asset Finance, getting the deal done is a straightforward process, but this is only possible because of their extensive sector expertise and focus on building long-term, sustainable relationships.”
“They’ve been very good for us, clearly understanding what we wanted to do and coming to see us in person rather than just doing a deal remotely.”
Pictured: from left Pete Marquis with Simon Knox
Earlier this month, Close Brothers Asset Finance funded a 22’’ Nilpeter FA-Line 8 colour flexographic press – along with finishing, rewinding and camera verification equipment – for MP+H Packaging in a CBILS hire purchase agreement.