Our High Wycombe team downed tools at 2.30pm on Monday and headed off to Windsor for a few drinks before catching the ten-minute boat ride down the Thames to Windsor Race Course. With some of the best weather this year has had to offer, it made for a fantastic afternoon and evening. The social side of […]
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.
Plus Finance Limited Plus Finance Limited are one of our key competitors in leasing, focusing on the furniture and fit out sector in the UK. The company was incorporated in 2001 by Nicki Matthews and Steve Pullen. Nicki is well known in leasing, being the second employee at Wyse Leasing where she worked for many […]
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.
Business equipment lease finance is a an increasingly attractive option for all types of UK businesses, growing by 53% year on year according to industry experts. Companies are looking for the best leasing deals with plant and machinery leasing and IT equipment leasing proving popular and an increasing trend towards office furniture and fit out leasing.
About Equipment Leasing
- Leasing enables companies to pay for the equipment they need over a fixed period of time – typically two to five years through a series of contractual, tax deductible payments. Leasing deals offer:
- Improved Cash Flow and Instant Return on Investment – By making monthly payments over the duration of the finance agreement, you can spread payments over the useful life of your equipment, rather than having to find the capital up front.
- Tax Savings – Regular monthly payments can be tax deductible, making the acquisition of products and services more cost-effective.
- Increased Flexibility for Future Upgrades – Technology changes rapidly, and avoiding obsolescence is key to staying ahead. By lease financing equipment, companies can expand or upgrade their systems as the need arises, often without an increase in monthly payments.
- More Available Budget – Instead of spending lump sums on rapidly depreciating assets, businesses can allocate resources to where they’re needed most, giving you the freedom to invest in other areas of their business.
- Fully Flexible for all Business Needs – Lease financing options can also fund applications and services such as installation and maintenance agreements, which are an essential aspect of most technology investments.
- Unaffected Bank Lines – Our financing solutions have no effect on other borrowing options.
Leading UK Leasing Company
WestWon is a nationwide asset finance broker with partners and clients throughout the UK. We can assist all sizes of companies and organisations across the country to find the best leasing solution for their business needs – for all types of equipment and technology.
For further information about equipment leasing for businesses, call us now on Tel 01494 611 456 or email firstname.lastname@example.org
Recently released figures the Finance & Leasing Association (FLA) show 31% growth in asset finance new business during September 2014. New business has now reached over £2.5 billion, the highest monthly figure in almost six years. FLA members financed almost 27% of UK investment in machinery, equipment and purchased software in the UK last year.
Leading the charge is business equipment finance, reporting its strongest growth so far this year, with new business up 53% in September compared with the same month in the previous year. Plant and machinery finance, commercial vehicle finance and IT equipment finance were up by 22%, 16% and 15% respectively.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“September saw robust growth across all the key asset finance sectors. New business in the third quarter of this year increased by 21%, three times the rate of growth recorded in the second quarter. These figures clearly show that the asset finance industry, through the provision of leasing and hire purchase, is helping UK businesses to invest and grow.”
The Federation of Small Businesses (FSB) has previously reported that two thirds of small firms expect to grow in the next 12 months and one in four plans to increase the amount of investment in their business. As a leading UK leasing company and FLA member, WestWon is helping organisations of all sizes to achieve their growth plans through the best equipment lease deals for their needs:
Key Reasons Why Equipment Leasing Is Growing:
- Leasing Improves Cash Flow – By making monthly payments over the duration of a lease finance agreement, you can spread the cost over the useful life of your equipment, rather than having to find the capital up front.
- Leasing Tax Advantages – Regular monthly payments can qualify as a tax deductible trading expense making the acquisition of essential assets more cost-effective.
- Easier to Upgrade Business Equipment – Technology changes rapidly and avoiding obsolescence is key to staying ahead. With leasing you can enhance or upgrade your equipment as the need arises.
- Leasing Increases Available Budget – Instead of spending lump sums on rapidly depreciating assets, you can allocate resources to where they’re needed most – giving you the freedom to invest in other areas of your business.
- Business Equipment Leasing is Flexible – Lease finance agreements can be tailored to suit your particular business requirements and include whatever combination of business equipment and related services you require.
- Leasing Protects Existing Lines of Credit – Our financing solutions have no effect on your other borrowing options, ensuring you can stay financially flexible.
For more information about business equipment leasing options download the Free Guide To Equipment Leasing or contact WestWon on Tel: 01494 611 456