15 November 2016, Beaconsfield, Buckinghamshire
WestWon are pleased to announce the acquisition of the customer base and intellectual property of leasing company, Tech5.
Trading since 2003, Tech5 have built up a roster of over 1,400 customers. In recent years, the company has facilitated close to £20 million of leasing business every year.
The founder of Tech5, Colin Theedom, is a veteran of the leasing sector having begun his career 43 years ago with Lombard. After progressing from a sales position to National Account Manager, Colin started his own business in 1999. Although he has now retired, Colin will remain a Non-Executive Director.
The acquisition of Tech5 is the latest in a long line of other acquisitions made by WestWon over the past decade. However, the key difference is the Tech5 brand will be retained and developed.
Jeremy Hall, Chief Executive Officer of WestWon noted, “Colin and his team at Tech5 have done an amazing job building a leasing company which primarily focuses on the golf and agriculture sectors. Over 20% of the golf clubs in the UK have undertaken a lease via Tech5; making it possibly the biggest leasing broker in this sector. The Tech5 brand is recognised by the 2,500 UK golf and country clubs as well as providers of turf care equipment. Not only do we intend to keep the Tech5 brand, but we will be aiming to develop it further. We look forward to working with Colin as a Non-Executive Director within our company in an advisory and consultancy role.”
Tech5 counts over 550 farms among their customers. Additionally, Tech5 has also worked with the UK’s most eminent football clubs, private schools and local authorities. WestWon will continue to service these customers and will continue to work in these sectors. However, WestWon’s key focus for development will be within the golfing sector. The Tech5 logo will be updated and a new website will go live over the next few months, which will highlight the strategy of working with golf clubs and suppliers who cater to this market.
Jeremy Hall further noted, “It is interesting speaking with finance companies that operate in the golfing sector. My perception was that the level of bad debt would be too high for our appetite. However, the reality is quite different. Bad debt cases and arrears are extremely low, meaning that Tech5 were able to expect a very high acceptance rate for new business.”
For further details on Tech5, call 01494 611 456 to speak directly with a member of the Tech5 team.
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WestWon is a well-established provider of equipment asset finance and leasing to all types of companies in the UK, both large and small. Read more at About Us.
|For further information, please contact:|
|Donna Paterson, Marketing Manager, WestWon||Jeremy Hall, Chief Executive Officer, WestWon|
|Telephone: 0116 289 3211||Telephone: 01494 611 456|