JCB Finance UK has showed signs of an even
deeper commitment to the public sector with publications of records
that it has signed at least circa £8 million of lease finance to
local authorities and the emergency services over recent
months.
Data released in recent weeks by the Official
Journal of the European Union (OJEU) showed that in March this year
alone the lender signed a relatively significant number of
public sector deals in the UK ranging in value from €310,000 to
€2.1 million.
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While in some cases it shared the financing
with other leasing companies, the data still shows that JCB Finance
UK has become an important player in public sector leasing in
Britain.
In fact, as OJEU data does not include all
public sector lease deals, the captive lessor, which finances third
party as well as its own assets, could be financing far more public
sector equipment than the records show.
Siemens Financial Services provided finance,
along with JCB, on the €2.1 million deal, which was for the finance
of cars, commercial vehicles, plant, sweeper and refuse collection
vehicles for use by East Dunbartonshire Council.
JCB also recently jointly leased with Cranmer
Lawrence €1.1 million of commercial vehicles to South Lanarkshire
Council.
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By GlobalDataOther large public sector deals signed by JCB
Finance include one valued at €1.6 million with the Mid and West
Wales Fire and Rescue Authority, and a €2 million lease agreement
with Norfolk County Council.
JCB Finance UK was unavailable for
comment.
Brendan Malkin
