BBI Programme: Structured Capital Solutions
Delivery partner: Liberty Leasing
Class 1 Vehicle Hire Ltd is an independent family vehicle and van hire company based in Larbert, near Falkirk, Scotland. It supplies vehicles on a daily, weekly, and monthly rental basis and has a fleet of nearly 300 vehicles. It offers a host of high-quality services tailored to suit clients’ needs and requirements and aims to deliver a professional and personal service to its clients.
Established in 2016, Class 1 Vehicle Hire Ltd has experienced rapid year on year growth. In order to accelerate the business even further, the team required funding for new vehicles to expand its existing fleet and realise growth ambitions.
British Business Investments delivery partner Liberty Leasing provided a £1m facility to allow the business to grow substantially and put its growth plan of doubling the size of the fleet into action.
The finance allowed the business not only to expand the fleet, but facilitated purchase of different vehicles for a wider range of project, with vehicles ranging from range from small to large and budget to executive. Future plans are to continue to make further additions to the fleet.