Lombard has provided a funding solution that it says has helped to enable Fleet Efficiency to both expand its business and reduce costs at the same time.
Fleet Efficiency, established in 2004, is a leading UK fleet management company whose services include vehicle finance, maintenance and telematics. It also provides fuel card and driver management services.
It had the opportunity to acquire 158 cars and commercial vehicles from its original supplier and Lombard’s £720k sale and leaseback finance solution allowed Fleet Efficiency to free up capital and save money on outsourcing. The saving has allowed the company to invest further in service delivery with no increased cost to the end users.
Mick James, dDirector of fFleet oOperations, said: “Lombard created a tailored finance solution which enabled us to invest in the expansion of the fleet, saving on rentals and bringing everything in-house. Lombard took care of the whole process and I can’t speak highly enough of its team. The funding has enabled us to move our strategy forward by at least 12 months and invest more in our service levels.”
Nigel Kerr, hHead of cContract Hire, Lombard – Business and Commercial, added: “Lombard’s funding helped Fleet Efficiency save on rental costs and removed the risks associated when dealing with an external supplier. It was important that everything went ahead without disrupting the daily business.”