BTG secures £680,000 hire purchase agreement for crane hire business expansion

The Challenge

A Yorkshire-based crane hire business needed to replace an aging crane that was becoming increasingly costly to maintain and less competitive in the marketplace. With growing customer demand for higher-capacity lifting equipment and contracts requiring more advanced specifications, the business faced a critical decision: upgrade now or risk losing market share. The challenge was securing £680,000 funding for a crane manufactured in mainland Europe without depleting working capital or disrupting day-to-day operations.

Our Approach

We identified that a hire purchase agreement offered the optimal solution, allowing the business to acquire the asset through manageable instalments whilst preserving operational cash flow. The crane's European manufacture presented a specific challenge, as many funders were reluctant to handle cross-border transactions. Our established relationships across a wide panel of specialist asset finance providers enabled us to identify a funder who could purchase the required Euros and pay the supplier directly upon the crane's arrival in the UK.

The Outcome

The business secured a £680,000 hire purchase agreement over a five-year term, adding a technologically superior crane with greater lifting capacity and enhanced safety features to their fleet. This investment has strengthened their competitive position, allowing them to tender for larger, more lucrative contracts previously beyond their operational capability. The crane is now generating strong utilisation rates and has opened up new revenue streams, positioning the business for continued growth.