Asset Alliance Group has grown the funding provided by its dedicated coach and bus division for vehicles to beyond £500 million. It has financed over 2,500 coaches and buses since the acquisition of Forest Asset Finance in 2015, the business says.
That rapid growth in the intervening period has left Asset Alliance Group as “a major funder for operators across the UK,” including many national and regional bus business. Smaller operators are also among those, including Celtic Travel of Llanidloes.
The coach and bus division is spearheaded by founding Directors Michael Bycroft and Darren Fitzpatrick (pictured, above). Asset Alliance Group says that a “significant proportion” of the UK’s battery-electric buses are under its funding agreements and that it aims to be “a one-stop shop” in specialist finance for the sector.
Speaking about breaking the £500 million barrier, Group Sales Director for Bus and Coach Mr Fitzpatrick says: “We are delighted to reach this exciting milestone. Our division of the business continues to go from strength to strength each year.
“As part of Arbuthnot Latham bank, we have access to significant funds that allow us to offer a suite of leasing and hire purchase products to operators at competitive rates.
“We also continue to access funds for clients through our broker panel, enabling us to provide a range of flexible finance options.”
Mr Fitzpatrick adds that a recent launch by Asset Alliance Group of its general asset finance and vendor finance teams has “enhanced our ability to support operators and manufacturers with asset-based finance arrangements and capital expenditure support.”
He goes on: “With continuing economic challenges and sector-specific recovery expected in 2023, we understand the need for operators to maintain up-to-date fleets and a desire to control the total cost of fleet ownership by exploring the benefits of modern, fuel efficient coaches and buses.” Further growth this year is targeted by Asset Alliance, Mr Fitzpatrick concludes.
