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Funding helps Alltruck plc to expand and launch new business
Over the past 28 years, Leicester’s Alltruck plc has grown into one of the UK’s leading truck rental and contract hire firms. The firm has benefitted from strong demand for its high-quality fleet, and the business has continued to invest for growth.
Alltruck recently opened new headquarters in Leicester, as well as a new garage and MOT facility in Loughborough and a sales office in Nottingham. At the end of December last year it launched a new business, Alltruck2, for customers looking to purchase the firm’s high-quality used vehicles, ranging from tractor units to rigids and vans.
In an indication of its excellent corporate ethos, the firm was awarded an Investors in People Gold award in 2016 and, in 2017, was shortlisted in the Motor Transport Awards. Clients include Aga Rangemaster, Agrovista and DX Freight.
Led by Paul Robinson and Debbie Halliday since an MBO in 2000, Alltruck has had an asset finance facility in place with Santander Asset Finance for the past four years. The firm has so far drawn around £20 million to date from this facility, using the funds to invest in and expand the business. Such has been the success of our relationship with Alltruck, the firm recently awarded its full, day-to-day banking relationship to Santander.
Paul Elliott, Corporate Relationship Director, Santander Corporate & Commercial, said:
We’re delighted to be supporting such an exciting, growth-focused business. We’ve been able to offer a significant funding line at a very competitive rate. This in turn has enabled Alltruck to maintain modern Euro 6 fleet of trucks making them more appealing to customers. They’re now also able to take trucks off the rental and hire fleet for disposal via the Alltruck2 business, which is already experiencing revenue growth.
Debbie Halliday, Alltruck plc, said:
The Santander credit team took time to get to know us and our business, ensuring they visited our two depots and the head office. Santander’s interest in our business was unique, and it was clear that we were working with a like-minded organisation, sharing a similar vision and approach. We certainly got the feeling very early on that this is a long-term relationship and it was clear that Santander has confidence in our business.
Santander now handles all of our corporate banking and often provides guidance in areas that are new to us. We find the team at Santander very easy to work with and they have a straightforward approach to getting things done.