PMD Business Finance has structured a £2.52m asset refinance deal to support the expansion of a growing plant and tool hire company into northern England.
The transaction, arranged on behalf of Hire and Supplies Ltd and funded by Praetura Asset Finance, refinanced more than 250 assets across 160 separate agreements. The deal has significantly reduced the company’s monthly finance costs and released working capital to support its strategic growth plans.
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PMD, based in Greater Manchester, played a central role in coordinating the complex settlement process, delivering the funding in three tranches over five working days.
Kai Wynne-Jones, structured finance director at PMD, said the broker worked closely with the business to deliver a tailored solution. “We’re committed to understanding our clients’ objectives and building bespoke funding packages that support long-term growth,” he said. “This transaction will enable Hire and Supplies to strengthen its presence in a new region and create local employment opportunities.”
The funding will allow Hire and Supplies, which operates depots in Dumfries and Oban, to establish a physical base in Cumbria. Director David Chandler said PMD had “moved quickly” to deliver a refinancing package suited to the firm’s needs. “This deal frees up significant cash for investment in bricks-and-mortar growth, particularly in a region where competitors have scaled back,” he said.
Will Brazel, regional sales director at Praetura Asset Finance, described the deal as a “strong example” of collaborative execution. “With a large volume of agreements to settle, the transaction required close coordination between funder, broker and client. The outcome demonstrates the value of asset refinance in unlocking working capital and supporting regional expansion.”
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