Forest Asset Finance has funded 100 new buses, supplied to social enterprise HCT Group, for its newly-won Transport for London (TfL) tendered routes 26, 397, W11 and W16, plus its existing 388, 385, 394 and W13 routes.
The 53 Enviro200s and 47 Enviro400 City buses are supplied on a mix of five to seven-year operating leases.
HCT Group’s fleet now comprises 670 single and double-deck buses, coaches, minibuses, cars and vans, making it Britain’s 10th largest operator, ahead of Abellio, Rotala and Tower Transit.
Says HCT Group CEO Dai Powell: “Forest Asset Finance has supported us for 20 years, and its advice is invaluable. Thanks to the team’s expertise, we’ve benefitted from carefully negotiated, flexible, and cost-effective funding for our fleet.
“An operating lease is the best way to ensure we remain competitive, meaning we can reinvest more money in community projects and transport links that improve the lives of people in our communities across the city.”
Formed in 1982 as Hackney Community Transport, providing minibuses for local community groups, HCT Group moved into commercial contracts in 1993, to support its charitable work. The social enterprise has since become a large-scale business, with 1,200 employees and 13 depots across London, Yorkshire, the Southwest and the Channel Islands.
