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 […]
Selling a leasing company Leasing companies are back in vogue, and not a month goes by without another press release stating that a leasing company has been bought by another leasing company. I remember the days back in 2008 when we were not in fashion. There was no merger and acquisition activity in the market […]
18th October 2017, High Wycombe, Buckinghamshire
Corporate Computer Lease PLC was a big name in computer and software leasing. Alongside Wyse Leasing, Syscap and Genesis Capital, they were one of the best known tech leasing companies. Sadly, along with their new leasing company, Smart Fund IT, they went out of business back in 2009.
Since then, finance companies such as ING, Bank of Scotland, Siemens, Grenke and Universal Leasing have been collecting from their CCL lease portfolio. With the receivers having now wound down the administration, it has left a customer base of companies who have leased in the past.
Earlier this month, WestWon acquired this customer base from the company working on behalf of the receiver, adding another 500 plus lease clients to their ever-growing portfolio.
Speaking on behalf of WestWon, CEO Jeremy Hall noted, “CCL were a great competitor to us at Wyse Leasing for a number of years. They were a well-run company that had some fantastic supplier relationships, especially in the software leasing sector. No one would have expected, or even wanted them to fail. After the administrator had completed their job and all these customers have paid their rentals, the only thing left is a list of companies. A highly valuable source of information, our task will be to analyse all these companies and speak to them about their future leasing needs.”
Most of the customers were SME’s, with a combined lease value of £36m. 75% of the contacts were for software leasing and computer leasing. Circa 8% of the portfolio is for the leasing of vehicle tracking devices and the next most popular class of leasing was telecommunications equipment.
This is the third portfolio acquisition within a year for WestWon, following Tech5 and Broughfame. Clearly, if you are looking to sell your leasing company then WestWon would be a good place to start.
For more information, call WestWon on 01494 611 456.
10th October 2017, High Wycombe, Buckinghamshire
WestWon has made its first major acquisition in 2017, purchasing a leasing broker based in Staffordshire. Broughfame has been trading for 17 years and over that time has written 2,400 lease agreements for over 1,700 customers.
The lease portfolio is mostly made up of small SME customers, with 60% of those companies being sole traders or partnerships. There is a high concentration of coffee equipment agreements, however, there are numerous other deals included, from a horse box to a commercial mortgage.
WestWon has a clear strategy of acquiring other leasing companies in the UK and this is the second acquisition within a year. In November 2016, WestWon acquired the customer base and goodwill of Tech 5, a leasing company with an £88m portfolio of leases for turf care equipment. Interestingly, the Broughfame portfolio was just over £12m of leases, increasing the size of our own lease portfolio by over £100m within the year.
Speaking on behalf of WestWon, Jeremy Hall the company CEO stated, “We are pleased to welcome Karen White, who has been running Broughfame for the last ten years. She brings with her a wealth of experience, mostly in the coffee equipment leasing sector. This market is expected to grow from £5bn a year in the UK to £8bn over the next few years. Clearly, more coffee machines will be leased. The historic customer base is also changing from what was mostly coffee shops, pubs and social clubs to your average company that just wants to serve good coffee to its clients and employees. We were particularly interested in the customer base, which we will be transferring into the main WestWon portfolio. There are also a number of long term loyal supplier relationships which we will look to nurture over the years ahead.”
Karen White, the CEO of Broughfame noted, “This is an exciting time for us. WestWon are able to significantly improve how we deliver our customer services to both our existing customer and supplier relationships. Their home-grown CRM system, is by far the best I have seen in a leasing broker. We will enable our suppliers to have access to all their deals and customer information. With the assistance of the WestWon marketing team, we will be building a dedicated website specifically for the coffee equipment leasing sector.”
If you are a Broughfame customer or supplier, please expect a call from a member of our team soon.
For more information, call Karen White on 01494 611 456.
26 April 2017, High Wycombe, Buckinghamshire
WestWon are proud to announce our partnership with LRG Financial Solutions Limited which enables us to offer LRG’s tailored insurance services to all scaffolding clients, new and old. Our partnership with LRG Financial Solutions Limited encompasses our intentions and involvement with the scaffolding industry. Not wanting to be seen as ‘just as an asset finance company’, WestWon would like to grow a reputation as the company who genuinely helps the scaffolding industry and the companies within the industry to continue to expand. An aim which was demonstrated by our recent affiliation with the Scaffolding Association.
WestWon have worked with the Directors of LRG Financial Solutions for over 25 years. Carl Redding, Scaffolding Sales Manager at WestWon, enthused, “This is another key partnership, which will enable WestWon to continue serving the scaffolding industry in the best way possible. We are looking forward to working with LRG Financial Solutions Limited and offering their services to our clients.”
For further information, contact WestWon on to 01494 611 456 to speak directly with a member of the Scaffolding team.
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About LRG Financial Solutions Limited
LRG Financial Solutions Limited has been an established Insurance and Mortgage provider since 1964. LRG Financial Solutions specialise in mortgages, insurance and income protection. Visit www.lrgfinancial.co.uk for more information.
WestWon is a well-established provider of equipment asset finance and leasing to all types of companies in the UK, both large and small. Learn more at www.westwon.co.uk/scaffolding.
For further information, please contact:
Carl Redding, Scaffolding Sales Manager, WestWon
01494 611 456
WestWon are proud to be the first asset finance company to become a member of the Scaffolding Association. This is an exciting step for WestWon and key to achieving our goals for 2017. As a member of the Scaffolding Association, WestWon is pleased to offer members our expertise in understanding leasing and asset finance and offer guidance where needed.
We have worked with all the major suppliers in the industry. We aim to support the Scaffolding Association’s members in 2017 and to offer continuing support for the scaffolding industry in the UK.
WestWon are looking forward to working even closer with the scaffolding sector, contributing to meetings, and engaging with more industry professionals.
The Scaffolding Association (http://www.scaffolding-association.org) is a not-for-profit independent trade organisation campaigning to raise standards of safety, technical, quality and workforce skills in the scaffolding sector.
Carl Redding, Scaffolding Sales Manager at WestWon, enthused, “We are looking forward to working with The Scaffolding Association and its members. It is an exciting step for WestWon to become an Associate Member. I look forward to communicating with members and working with them in the coming year.”
For further information, contact us on to 01494 611 456 to speak directly with a member of the Scaffolding team or visit westwon.co.uk/scaffolding.