Ogilvie Fleet has secured a facility with HSBC that will allow the expanding company to fund almost £100 million pounds worth of cars and commercial vehicles.
The monies will allow Ogilvie to double its fleet size by 2020
The HSBC partnership provides Ogilvie Fleet with an annually renewable two-year rolling finance facility.
The monies will allow Ogilvie to double its fleet size by 2020 as it aims to compete with some of the largest leasing companies for 100+ contracts. Currently, their fleet stands at around 12,000 company vehicles.
The finance package is a combination of core asset funding and rental securitisation and has been arranged and designed via a close collaboration with HSBC’s Asset Backed Finance Team, HSBC Equipment Finance and Scottish Corporate Team.
Gordon Stephen, managing director, Ogilvie Fleet, said;
“We are an ambitious business, looking to grow and create jobs. In recent times we have seen an increase in our customer base, invested in technology and devised a prudent disposal strategy, all of which is helping us reach our long-term goals.
