UK leasing firm Tower Leasing has opened a second UK office in Tamworth, Staffordshire.

The opening of the Tamworth office will be supported by staff from its existing southern office in Windsor, Berkshire and regional recruitment from the Midlands.

Tower specialises in financing capital equipment, from telecoms equipment and photocopiers, to waste compactors and air conditioning systems with individual leases ranging from £1,000 to over £500,000 per transaction.

The leasing business has also opened product lines in invoice financing, unsecured and secured business loans and contract hire to cover other eventualities for its asset finance clients.

A source close to the firm said that Tower was targeting strong partnerships with equipment suppliers , and had recruited two staff in 2015 to focus on client relationships.

Stephen Jenkins, head of customer sales, said: "Opening the Midlands branch is a fantastic step forward for Tower and proof of our commitment to both equipment vendors and SME’s not just within the region but nationwide.

"We have exciting plans for growth in 2016 and this is the first step in that process."

In May last year, Acuity Investments acquired Tower Leasing for an undisclosed amount. Acuity was set up in 2014 to focus on buying companies in the financial services sector, such as specialist lenders or insurance companies, and is run by Adam Barron and Toby Franklin.