SME Companies In The UK Providing finance and leasing for SME companies in the UK. Definition of SME Companies in the UK A “small or medium sized enterprise” is defined by the European Commission as a company that employs fewer than 250 people. Furthermore, there is another category called “micro business.” The definitions are broadly […]
WestWon’s Second Award of 2018 We are delighted to have come back from our Easter weekend to see we have been awarded with the Rising Star award by Reading based lender Aldermore Bank. What a way to start Q2! The Rising Star is awarded to brokers who have increased their lease volume with Aldermore by […]
We’ve Been Awarded Feefo’s Gold Trusted Service Award 2018! Yesterday we received very exciting news from our review partners Feefo that we’ve been awarded Feefo’s Gold Trusted Service Award 2018! The Gold Trust Service Award is awarded to businesses who have received over 50 reviews at an overall rating of 4.5/5 or higher in a […]
In the latest of a number of investments into UK leasing companies, WestWon are pleased to announce we have invested in Equipment Leasing Solutions Limited, having taken a 40% interest in the company.
Equipment Leasing Solutions Limited (ELS) is founded by Stuart McKee who has been working in leasing and asset finance for seventeen years. Stuart takes up the position of Managing Director and is a significant shareholder in the company. ELS works in three key sectors, media finance, energy and vehicle technology, including tracking and vehicle CCTV. Stuart also has a number of business technology relationships that he is keen to expand on.
ELS will be based out of the WestWon Leicester offices and has the benefit of an established support team already in place. The plan will be over time to expand the ELS sales team to increase lease penetration into these markets. Read more
Lease Gym Equipment with WestWon
WestWon are pleased to announce the launch of the new ‘Leasing Gym Equipment’ division. The division is headed up by Scott Rogers who has been in leasing and asset finance for over 15 years, previously working with Syscap.
Leasing and financing of gym equipment is nothing new to WestWon, having worked with a few suppliers into the gym sector for some time already. More recently, a number of Tech5 golf club customers have installed state of the art gyms which WestWon have financed for them.
Scott Rogers, Regional Director in charge of the gym equipment division stated:
“We have three divisions in our group that already offer financing for keep fit equipment. Our education business ‘edde’, (www.edde.education) already supports both private and state schools with leasing. More and more schools are now investing in their own gymnasiums and soft play areas as the nation drives forward the concept of a better and healthier lifestyle, starting in education. Secondly, we have the Tech5 (www.tech5.co.uk) business that works in the turf care sector. Their 1,200 plus customers are mostly made up of golf courses, football, cricket, rugby clubs and leisure centres. With the golf sector in a slow steady decline, clubs are resorting to new ideas such as building gyms to stimulate growth. Lastly, we acquired a significant shareholding in Fit Out Finance earlier this year (www.fitoutfinance.co.uk). One of the main markets they work in is the hotel sector, a big user of gym equipment. The decision to set up the gym equipment leasing division made perfect sense as we are already doing gym equipment lease deals on a regular basis. A key focus for us will be building more relationships with gym manufacturers, suppliers, distributors, end users and gym franchises”.
Jeremy Hall, CEO of WestWon added;
“I remember the first gym equipment leasing deal I ever did, which must be twenty years ago now. It was to a company belonging to Jeremy Paxman. I never met Mr Paxman but do remember doing the lease deal and thinking this is a good sector to be in.
For us, after carrying out an in-depth analysis of the UK gym equipment business, the most important thing is to appoint a champion to run the project. Scott is perfectly suited to this business. Being a blue belt in Small Circle Jujitsu, he has a passion for martial arts, health and fitness. Scott will be developing a number of gym manufacturers and supplier relationships, we have been looking to grow the gym leasing business at WestWon”.
Lease gym equipment – it’s a growing market
Gym equipment manufacturers and suppliers will tell you it’s still growing. Club memberships by all accounts are still on the rise. We see the core health and fitness market growing in traditional gyms and health clubs. However, we think the greater opportunity will be with hotels, companies, schools and other organisations building gyms to complement their existing range of services. The WestWon gym division will be targeting UK gym manufacturers, distributors and dealers as well as the gym customers they serve. We will keep you posted on the success stories we have. If you are looking to finance gym equipment, please give Scott Rogers a call, and join us on this exciting journey.
Click here to view our ‘Gym Equipment Leasing’ page
Please contact us on: 01494 611 456 or send us an email on: firstname.lastname@example.org
WestWon are pleased to announce the launch of leasingcalculator.co.uk, a website designed to promote the benefits of leasing to the SME community.
Speaking on behalf of the leasing calculator project, WestWon CEO Jeremy Hall noted, “Leasing calculator is the brain child of our marketing department who have then taken an idea and turned it into reality. Read more
WestWon are pleased to announce that it has acquired 42% share capital of Business Funding Portal Limited. The main trading style of the company is Fit Out Finance, a specialist leasing broker working in the furniture and fit out sector.
Fit Out Finance is a perfect fit for the existing WestWon furniture and fit out division, working with organisations that either renovate existing buildings or look to relocate to new premises. The business has been trading for 10 years and the current team headed up by the CEO Mark Jones, will all stay with the company.
Fit Out Finance Website and Domain Name
The main attraction for WestWon was the domain name www.fitoutfinance.co.uk. “It is completely clear what we do” notes Mark Jones. He added, “Every week we receive business opportunities directly via the internet. We believe that the brand can be developed further, maintaining our focus on leasing and financing of building renovation and premises move fit out projects in the UK. We are looking forward to joining the WestWon family of companies where we will be sharing infrastructure, marketing, financial and regulatory resources. The fit with WestWon makes perfect sense as they already have a strong footprint in the office furniture leasing sector. Jeremy and I have known each other for twenty plus years, he has even bought the customer base of a previous company I had many years ago called Public Sector Finance.”
Fit Out Finance and WestWon
Speaking on behalf of WestWon, CEO Jeremy Hall noted, “It will be business as normal for Fit Out Finance. Mark will still hold 58% of the equity, he will still be in charge of the day to day operations and the company will maintain its trading style and website. We will be implementing some immediate changes; remodelling the company logo and colour scheme to follow in the style of WestWon branding and implementing the WestWon CRM system. This is not an acquisition or a merger, it is important that we keep Mark and give him the ability and flexibility to grow the business.”
Fit Out Finance in the UK
Leasing of office furniture and associated fit out costs is a big market in the UK. Office moves still count as one of the most expensive investments many companies make. Amortising the cost of an office move via a lease makes perfect sense. The general view is this sector is not set for growth over the next few years in the UK as we come to terms with the affects of BREXIT. However, by pooling the resources of Fit Out Finance and WestWon we hope to have a larger market share.
For more information, please contact either Mark Jones or Jeremy Hall at WestWon. Call us on 01494 611 456.
Since loading our first lease opportunity onto our CRM system in 2008, WestWon have directly and via the acquisition of other lease portfolios, been involved in 11,321 unique lease and business loan opportunities to the value of £452m. We did not manage to win all these deals, some of our prospect clients paid cash, did not proceed with an order or the companies were unable to achieve a credit acceptance. However, the numbers produce an interesting read.
Speaking on behalf of WestWon, Jeremy Hall, CEO noted, “A recent review of our CRM system gives a valuable insight into the type of companies we are working with, along with the type and value of assets they finance. As of today, we have undertaken leasing and business loans for 5,787 companies in the UK. Many of these were introduced to us from 14 leasing company acquisitions we have made over the last ten years, the first being Power Leasing in September 2006. Our lease portfolio is currently made up of 8,137 unique contracts written. WestWon have a plan to continue its strategy of growth. We have already grown from 1 person to 30 in just over ten years. Our target is to have a team of 50 people writing £50m of lease volume per annum within three years. We are looking forward to loading our 10,000 lease/loan agreement onto our database, at which time we hope to have been involved in over £500m of business funding in the UK.”
This week, a team of three WestWon employees went off site to analyse leasing companies in the UK. Our search started with a list of 898 UK leasing companies. After removing duplicate entries and companies that were not really involved in leasing, the portfolio was reduced to 832 companies. 52 of these companies have ceased trading, leaving a live list of 780 UK based leasing companies. We believe this to be one of the most comprehensive and up to date lists of leasing companies in the UK.
George Shillingford, one of the WestWon team involved in this project explained “This was a time consuming and tiring data crunching exercise. We have viewed nearly 900 leasing company websites, defined what assets each leasing company deal with, and then rated every single website from poor to excellent in quality. The work did not stop there. We have data loaded every director, their age, shareholding, undertaking a credit report on every company and ranked them by net worth. It’s been a fantastic and highly interesting project to be involved in.”
The acquisition of leasing companies and or lease portfolios will continue to be a main part of the strategic growth of the company. If you run a leasing company and wish to be part of this journey, please call our CEO for a confidential conversation.
Jeremy Hall, 01494 611 456
WestWon provided a company based in West Drayton with asset based finance for 5 LG 32″ LG32LS53A Panel & Media Player via a WestWon Partner who supplies LG AV Media Equipment
Capital Cost: £6,460.16 ex. VAT
Lease Rental: £130.73 ex. VAT
Payment Frequency: Monthly
Lease Period: 5 Years
|LG 32″ LG32LS53A Panel & Media Player||5|
|Unistrut and Bracket System||5|
|CAT 5 Patch Cables||5|
|16 Port Switch||5|
WestWon provided a company based in London with asset based finance for 1 x Chief LVM2x2U videowall stand via a WestWon Partner who supplies Audio Visual equipment.
Capital Cost: £20,566.39 ex. VAT
Lease Rental: £671.84 ex. VAT
Payment Frequency: Monthly
Lease Period: 3 Years
|Chief LVM2x2U videowall stand||1 x|
|Display Manager DM-CCTS Cable Connector||1 x|
|Samsung UD55C Videowall monitor||4 x|
|Staging Direct 6 sq m Basic Stage||1 x|