division
Fleet Alliance, the fleet solutions company, has launched an asset
finance division designed to finance commercial vehicles and
non-wheeled assets.
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The new division is headed by business development manager, Tim
Brown, who comes with a 20-year career background in asset finance
including time at Lombard and Abbey.
The new arm to Fleet, which historically has acted as both a
broker and also as head of a broker network, will also finance
heavy goods vehicles, coaches and buses, plant and machinery
including yellow plant, print machinery and machine tools, and
equipment such as office, IT equipment and infrastructure.
Brown said the new division came about as a result of existing
fleet clients requesting the Alliance to finance non-wheeled goods
and commercial vehicles in addition to the customary wheeled
assets.
The company recently obtained funding for 10 Lucas Insulated
tri-axle trailers which came complete with Thermo-king
refrigeration units.
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By GlobalDataBrown said: “These cost in total some £333,836 and the rates we
quoted to win the business were more competitive than those offered
by the mainstream finance companies.”
Fleet Alliance, which is currently looking to hire additional
sales staff, was established in 2002 as a network of motor finance
and contract hire brokers servicing the small to medium-sized fleet
sector. Recently, as a platform for growth, it has reformed its
relationship with its affinity partners into three distinct groups,
Member Partners, Associate Partners and Dealer Partners.
The company’s relationships with its four principal funding
sources ensures that affinity partners obtain keen pricing.
It also provides them with access to back-office support and
systems for asset ordering, processing and administration. This
also comes with selected add-on products such as a daily rental
service and a service, maintenance and repair product which include
the ability to book vehicle services online.
Fleet Alliance’s managing director, Martin Brown, is optimistic
about growth. He explained that total sales from affinity partners
have increased by some 60 per cent in the last 12 months. Gross fee
income is on schedule to reach £3.1m and vehicle funding to hit a
high of £80m during 2007.
“Our five-year plan,” he said, “shows us ordering some 7,000 new
vehicles a year by 2012. This effectively doubles the size of our
business – a target we believe is eminently achievable.”
