Dawsongroup Finance hits £150m milestone
Part of Dawsongroup PLC, the Ringwood-based company’s portfolio exceeded the major milestone for the first time in April, with £150m of financed assets in use which are currently funded by Dawsongroup Finance.
Supported by a field-based sales team of six, approximately £100m of Dawsongroup Finance’s business is with Dawsongroup PLC customers based throughout the UK, including trailers, trucks, sweepers, vans, buses and coaches. A further £25m is business introduced by their network of finance brokers and the remaining £25m is derived through Dawsongroup Finance’s specialist car contract hire finance division.
April alone saw them provide financing for more than £5.4m assets, including £3.6m worth of trailers funded for a long-standing major supermarket customer. Over the years they have financed things as weird and wonderful as a marmite sprayer, a wrapping machine, and a salmon grader.
Despite the global pandemic 2020 was one of their busiest year yet, which saw the team double in size to meet demand; they ended the year with the win of a major leasing contract worth £15m to supply delivery trucks and trailers to a supermarket chain.
Kevin Wills, managing director of Dawsongroup Finance, said: “Asset finance needn’t be complex and we like to ensure customers are totally clear on every aspect of their dealing with us. Making decisions that are fair and sensible is key to our philosophy. None of this has changed despite the pandemic and the turbulent times for businesses. The fact that we continue to grow indicates to us that this works!”
Dawsongroup Finance’s growth towards this new milestone has also been supported by a bespoke lease administration system they invested in five years ago.
Adds Kevin: “This industry-leading technology was built just for us, and it enables us to be much more responsive. So, if a customer needs a settlement figure, we do it – today. Or, if they require a year-end balance statement, we do that today. It’s what the customer should expect and deserves, and that is the level of service we’ve built our reputation around.”
As part of Dawsongroup PLC, a privately owned group of companies specialising in commercial asset rental, Dawsongroup Finance provides financing solutions for customers of its sister companies, financing assets from buses and lorries, to material handling equipment and vans. Being part of the group also means they can buy customers’ old assets from them and provide greater flexibility.
Internal sales manager Matthew Bull said: “Being part of a major asset group, which is a significant purchaser and operator of assets across a multitude of sectors, we know the markets our clients are operating in, their needs, and the challenges they face. Not only can we provide advice on the assets they require finance for, but we have valuable access to suppliers and manufacturers too.
“As a result, Dawsongroup Finance is flexible and fast-moving, in a way banks and other independent finance providers can’t be – we can even find the right asset, secure funding, and complete the transaction all within the same day. That, combined with our strong team, is the recipe for our continued success.”
