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September 19, 2019

Hanbury Riverside move to revamped headquarters

Commercial vehicle providers and subsidiary of Asset Alliance Group, Hanbury Riverside, have moved into a two-acre ‘old haulage yard’ in Suffolk.

By Christopher Marchant

Commercial vehicle providers and subsidiary of Asset Alliance Group, Hanbury Riverside, have moved into a two-acre ‘old haulage yard’ in Capel St Mary, Suffolk.

The move has seen the business relocate from West Thurrock, increasing its workshop and yard facilities by four times to extend its reach across the East and South East of England.

Hanbury Riverside director, Lee Smith, said: “As we approach 40 years since Hanbury Riverside’s founding, moving into a much bigger site feels like a fitting celebration ahead of that milestone. We are dealing with increasing demand and a growing customer base, so this is an exciting and significant move for us that will enable us to meet our growing customer demand.

“We have a reputation for providing our customers with the best quality stock and the highest standards of service. Our new facilities give us a solid foundation for our existing model, as well as huge potential to broaden our offer to include rigid vehicles as well as contract hire and fleet management. We have an exciting couple of months ahead of us as we start to see everything come together.”

Established in 1982, Hanbury Riverside is focused on selling high spec tractor units, between one and three years old. In 2018 it was acquired by Asset Alliance Group.

The new site, between Colchester and Ipswich, was placed in part to offer easy access to the A12 and A14 roads, a benefit for customers who buy trucks online and fly in from Ireland, Scotland and various parts of Europe to collect the vehicles.

In August the Asset Alliance Group secured a £20m investment from Allied Irish Bank (GB), taking the total funding in the firm to £175m.

The company first obtained a £75m revolving asset-based lending deal in 2016, led by NatWest and supported by HSBC. Further funds were awarded by the Clydesdale Bank and Shawbrook Bank in 2018.

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