UK-based Blue Group, which sells heavy equipment to the waste and quarrying industries, said it had secured a multi-million pound equipment finance facility from bank HSBC, helping it offer a rental option on its products.
Blue Group, which sells almost £2 million (€2.5 million) worth of equipment to businesses across the UK each week, said it was the funding to purchase fleet to be rented by companies that need instant access to machinery.
Brian Maxwell, group director at Blue, said, “We recognised that a growing number of customers were looking to hire equipment when they needed it quickly, so we made it part of our strategy to offer this service to meet this rising demand.
“With the funding in place from HSBC, we’re giving clients the chance to get hold of equipment almost instantly, offering them more flexibility. The rental business complements the sales business perfectly as it provides a complete solution for our loyal customers.”
James Shepherd, HSBC area director for Avon, Gloucestershire and Wiltshire, added, “Entering the rental market can be challenging for some machinery businesses as it can often be hard to get adequate funding in place.
“Blue Machinery has a great reputation in the industry for delivering a high quality service to its clients, so we were pleased to offer them a finance package that will help support their ambitious growth plans over the next few years.”
Blue Group was established in 2004 and provides material handling equipment, including crushers, chippers, screeners and shredders.