SKM Asset Finance and Corporate Asset Solutions (CAS) have launched a joint venture for construction plant and equipment financing.

The company, trading simply as Construction Plant Finance, will operate as a separate entity, providing hire purchase, finance lease, operating lease and contract rental.

Zac Cogan of CAS, and Steve and Jackie Moody of SKM have been registered as directors of the new company.

Assets financed will include dumpers and excavators, vacuum excavators, cranes, road rail and waste recycling equipment. The company will also provide “green finance” for electric- and solar-powered equipment, like lightning towers and welfare units.

The company claims to be the first independent lessor to be introduced solely for construction plant and equipment since 1997.

Steve Moody said: “We are really pleased to be in a position to launch a dedicated, truly independent finance company for the construction plant sector. The team at Construction Plant Finance has a thorough understanding of the industry and unlike some lenders, speak the ‘customer’s language’.

“The specialist strengths of both businesses behind Construction Plant Finance complement each other perfectly from both a sales and operational perspective.”