DF Capital supports significant growth in the electric forklift market
DF Capital has just partnered with Handling Equipment UK Ltd to help support its dealers in the UK electric forklift market.
About Handling Equipment UK Ltd
Handling Equipment UK is a UK importer of EP Equipment material handling machines. Based in Stourbridge in the West Midlands, it is a family-run business that employs 20 people. It currently works with over 40 material handling dealers in the UK.
What did Handling Equipment UK Ltd need?
DF Capital was initially approached by EP Equipment, a leading global manufacturer specialising in lithium-powered warehouse equipment. There is growing interest in EP Equipment’s Li battery-powered forklifts because these particular vehicles can now do everything a diesel or gas machine can do – including working outside – and they don’t produce any emissions when they are being used.
EP Equipment is continually expanding its footprint in the UK via distributor partners and introduced DF Capital to Handling Equipment UK. Handling Equipment UK was importing increasing numbers of EP material handling machines into the UK for supply to dealers and therefore was looking for a bespoke facility to support this activity.
How did DF Capital help?
A tailored £1m floorplan facility was created for qualifying dealers which provided Handling Equipment UK with the peace of mind to take orders, knowing they would be paid immediately. This also eased cashflow and managed any financial risk. A unique 60-day cost-free floorplan facility is offered to a number of qualifying dealers, allowing them to hold additional stock to meet the growing demand for the lithium-powered units, as they know that funding is guaranteed to them.
Handling Equipment UK has sold in excess of 200 EP electric forklifts in the last year. Due to the considerable demand for the units, the company estimates that double this amount will be sold in 2022 and then twice as many again in 2023. The inventory finance facility from DF Capital will aid this growth.
Andy Williams, managing director at Handling Equipment UK Ltd commented: “The clock is ticking for companies across Britain, aiming to do their part to cut carbon emissions and meet stringent government targets. As part of this, electric forklifts are vital as part of the way forward and we have seen massive demand for them over the last couple of years. EP Equipment in particular has developed a first-rate machine that is both well-priced and ticks the ‘environmentally green’ box. The only thing missing – until now – was a sensible and flexible way to finance them, particularly when customers wanted to try before they bought them. We are delighted to be working with DF Capital because of its vast expertise in running floorplan facilities and the fact that it is providing us with the holy grail with its rental scheme.”
Brian Warbrick, head of vendor origination at DF Capital, said: “We’d been talking to EP Equipment for a while and it’s a pleasure to partner with one of its key distributors. Boosting environmental sustainability is always at the top of our agenda at DF Capital – we work with a number of innovative and ‘green’ companies and the electric materials handing market is a very exciting one and key to helping lower CO2 emissions. Handling Equipment UK is a rapidly growing player in this space and we are glad that we were able to help it support its dealers in a way that no other funder could.”