Fleet management company drives further growth

A SOLIHULL company specialising in contract hire and fleet management has secured a multi-million funding package from Barclays in support of its strategic growth plan.
 
Founded in 2001, Fleet Hire operates throughout the UK. The company has a staff of 65 and a fleet of around 7,000 vehicles.
 
Having seen 30% growth year on year, the company has aspirations to reach a fleet size of 15,000 within the next three years and to become a £100m+ turnover business.

This year the company expects to achieve a turnover of around £70m.
 
Graham Hale, CEO of Fleet Hire, said: “This latest funding from Barclays will enable us to continue to grow the business, a key area of growth being our car salary exchange offering.

“We have enjoyed a mutually beneficial relationship with Barclays and have worked together for the benefit of customers seeking bolt on funding to their contract hire requirements.

“Barclays, through good and tough UK economic trading conditions, have continually supported the business having belief and confidence in the management team and our business model.”
 
Gareth Cooper, relationship director of Barclays’ asset finance division, said: “We have enjoyed a long-standing relationship with Fleet Hire across all aspects of their business.

“They adopt a very transparent approach to their business which enables us to understand their strategy and to deliver bespoke solutions to meet their requirements.”