Lombard sign increased deal with TransLinc at Commercial Vehicle Show
Birmingham, April 16th 2008 – The Birmingham office of Lombard, the asset finance provider, have signed a multi-million contract extension of the facility they provide for Lincolnshire based TransLinc Limited at the Commercial Vehicle Show, currently being held at the NEC in Birmingham.
TransLinc was originally formed within Lincolnshire County Council to provide in house contract hire with maintenance for the Council’s vehicle fleet. The company became a specific trading entity in 1992 and underwent a management buy-out in 1998. Today the company has a fleet of over 3,000 vehicles and is a leading supplier of transport solutions to Local Authorities with long term contracts signed with over 40 authorities. The main activities of the company include vehicle contract hire and maintenance, sale and leaseback agreements, fleet management and passenger/goods carrying services. The company also provides specialist transport services, particularly for passengers with special needs.
Last year, Lombard together with The Royal Bank of Scotland ("RBS") supported the £50million Institutional Buy-Out of the company. RBS provided debt funding and Lombard asset finance facilities to support the equity investment of RJD Partners.
Under this extension, Lombard has provided additional headroom for TransLinc to increase and add to their fleet of vehicles, as demand for their services continues to increase. This is the first contract Lombard have signed at this years show, which is Europe’s largest annual road transport, logistics and vehicle maintenance event and occupy’s over 90,000 square meters across 11 halls at the NEC. It has become the principal UK focal point for business and personal networking within the industry.
Commenting on the new extension, David Foulds, Finance Director at TransLinc said:
"This major uplift in our facilities creates additional buying power for the company in a competitive marketplace, but also allows us to increase our fleet of vehicles on the road which enhances our customer proposition across the UK."
Speaking of the new contract and the benefit of exhibiting at the Commercial Vehicle Show, Dilip Nathwani, Relationship Director at Lombard in Birmingham said:
"We are delighted to announce this increased facility for one of our major Midlands customers at what is the UK’s leading commercial vehicle show currently taking place in the heart of the region. TransLinc are a very progressive company and the extension of their facilities allows them to enhance their stock proposition and compete more aggressively for contracts across the UK."
For further information please contact
Andrew Cameron-Smith
Senior Media Manager
Tel: + 44 (0) 7796 336292
Email: andrew.cameron-smith@rbs.co.uk
Notes to Editors
Lombard is the asset finance division of RBS UK, part of The Royal Bank of Scotland Group
The Royal Bank of Scotland Group ("RBS Group") is one of the world's leading financial services companies. For the past four years RBS has consistently ranked in the top 10 global banks. RBS Group operates in Europe, the US and Asia Pacific serving more than 36 million customers world-wide and employing more than 140,000 people. In addition to the provision of a full range of banking services under The Royal Bank of Scotland and NatWest brands, RBS Group also includes Citizens Financial Group, Ulster Bank, Coutts Group, Direct Line and Churchill.
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