Fleet Hire has secured a multi-million funding package from Barclays, to support of its strategic growth plan.
Having seen 30% growth year on year, the company has aspirations to reach a fleet size of 15,000 within the next 3 years and a £100m+ turnover business for which they see Barclays providing a key funding role. This year the company expects to achieve a turnover of around £70 million.
Graham Hale, CEO of Fleet Hire said: “This latest funding from Barclays will enable us to continue to grow the business, a key area of growth being our Car Salary Exchange offering. We have enjoyed a mutually beneficial relationship with Barclays and have worked together for the benefit of customers seeking bolt on funding to their contract hire requirements.
"Barclays through good and tough UK economic trading conditions have continually supported the business having belief and confidence in the management team and our business model.
"At Fleet Hire we value the integrated approach and service provided by Barclays to ensure the growing and diverse needs of the business are fulfilled.”
Gareth Cooper, relationship director of Barclays Asset Finance division, said: “We have enjoyed a long standing relationship with Fleet Hire across all aspects of their business.
"They adopt a very transparent approach to their business which enables us to understand their strategy and to deliver bespoke solutions to meet their requirements.”