Henry Howard Finance (HHF) has won a lucrative £6m deal to provide lease funding to clients of the security systems arm of G4S, formerly Group 4 Securicor.
The deal covers the leasing of CCTV and access-control systems for a number of sites throughout the UK.
Cardiff-based HHF specialises in vendor financing of electronic point-of-sale, refrigeration, vending machines, office equipment as well as the CCTV sector.
Mark Crook, HHF’s sales and marketing director, said: “The deal, which covers the funding of asset values ranging from £20,000 up to £100,000, is expected to boost HHF’s turnover by at least £6m with the prospect of more to come.
He added: “It is great that an independent company can sign a deal of this magnitude. We see it as a significant breakthrough. It has tremendous possibilities for us and is something we can build on to become an even bigger player in our market place.”
HHF was formed in 1996 and became a plc in 2000. Crook previously worked at Lombard Business Equipment Leasing.
Adam Norris, head of UK sales at G4S Security Systems UK, said HHF had proved to be the only lessor who tendered to be able and willing to structure the type of deals they require.
He said: “HHF was flexible, innovative and able to come up with solutions that others could not.”
During its last financial year HHF reportedly exceeded its target of a £35m turnover. “Our aim,” Crook said, “is to reach £50m over the coming year, and we are confident that it will be achieved.”