Deals worth in excess of £2 million have been put together by Asset Alliance Ltd (AAL) for two of the UK’s leading logistics companies.
AAL deliver specialist commercial vehicle asset finance, contract hire and fleet management solutions to businesses in the transport and logistics sector across the UK and Europe.
As an independent advisor they can provide their clients with advice that is tailor made for individual requirements and not tied to any one manufacturer’s products.
A three way discussion involving AAL, R.H. Commercial Vehicles, a leading Renault dealership and The Widdowson Group, one of the UK’s leading logistics operators led to a £1 million contract for the supply of 15 new Renault trucks.
The order consisted of five Renault 460.25 Privilege cab units and 10 Renault 270.18 Premium 25ft curtains with tail lifts.
Ian Padley, Head of Contract Hire and Fleet Management for AAL said: “All members of our team have a great deal of industry experience so we take the time to get to know our customers and how they operate. That way we can use our knowledge to build individual and innovative business solutions for them. Only by taking time to listen to customers and fully understand their business needs can we provide the right solution for their transport requirements.”
Khalil Karim, Financial Controller of The Widdowson Group said: “Right from the start AAL understood our requirements and worked with us to find a solution. With AAL we were dealing with people who know the industry, know the manufacturers and dealers and had the financial muscle behind them to provide us with the best deal and get things done.”
Currie European Transport posed a different problem when they decided to replace some of their trailers. Initially they considered investing in refurbished stock but it became clear there might be an issue with European code XL regulations.
John McLaughlin, Head of Leasing for AAL, was instrumental in putting together a £1 million contract for the supply of 50 new 4.0 metre triaxle curtainside trailers from German manufacturer Krone.
Commenting on this deal Mr McLaughlin said: “When we first spoke to Currie European they wanted to look at refurbished trailers. However, it was clear there were going to be some issues in ensuring the replacement trailers met latest European regulations.
“After detailed discussion we gave the client a number of supply options and eventually Currie European decided to go for the trailers produced by Krone. AAL then arranged a consultative meeting between ourselves, the company and Krone to conclude the order which has turned out to be a well-engineered piece of business for all concerned. As a bonus Currie European also benefit from the strong trade-in values supported by AAL and Krone which helped to seal the deal.
Stephen Turner of Currie European said: “We’re delighted with the support that we received from John McLaughlin and AAL. His support enabled Currie European to structure the funding we needed to put in place a substantial order with Krone. The professional advice and service from AAL helped us immensely and made the decision making process much easier.”
Asset Alliance Ltd was established in 2010 by Willie Paterson, the former founder and head of Alliance & Leicester’s commercial vehicle finance division. He left them in 2009 when they were taken over by Spanish bank Santander who decided they did not want to continue in the specialist asset finance business sectors.
A £25 million investment from private equity firm, Cabot Square Capital, and a further £20 million raised against the initial capital means that AAL are well financed to match any other players in their market place.
The company already manages a portfolio in excess of 500 assets with more than 20 clients including blue chip fleets such as DHL and Carlsberg.
AAL’s core business is in heavy trucks and trailers focussing on firms who run fleets with anything from 10 to 150 heavy goods vehicles.
The firm operate on a UK wide basis from offices in Strathaven, South Lanarkshire, Leeds and their head office in Wolverhampton where they have a strategic alliance with ATE Truck and Trailer Sales, one of the UK’s largest independent truck and trailer dealerships.