Falmouth, March 2009 - Blue Flame (Cornwall) Ltd, which is based in Penryn, Cornwall, has invested into its business with the acquisition of 14 new vehicles, which have been contract hired with a funding package worth £200K from Lombard Vehicle Management.
Blue Flame (Cornwall) Ltd was established 20 years ago by Directors Mark Bolitho and Paul Smith and now provides a diversified range of heating maintenance and installation services to both the public and private sectors alike, throughout Cornwall and West Devon. Its annual turnover has doubled in the last year, and it is expecting to expand further this year through additional contracts and the growth of its renewable technology department.
Last year Blue Flame (Cornwall) Ltd beat national competition to win both the heating and electrical maintenance contracts for Coastline Housing Ltd, a social housing provider with over 3,500 homes in West Cornwall. The new 10 year contracts have required Blue Flame (Cornwall) Ltd to expand both its engineering and administration staff and bring the total number employed by the company to 54. The business hopes to create further jobs in 2009 through ongoing expansion.
The new vehicles have been financed on a full maintenance contract hire arrangement from Lombard, part of the RBS Group. In 2008 Lombard Vehicle Management bought back and contract hired 18 vehicles that were previously owned by Blue Flame (Cornwall) Ltd. This made the total number of vehicles funded by Lombard within the business to 32.
Blue Flame has held its full banking facilities with NatWest (also part of the RBS Group) since it was established, and the bank provided a funding package two years ago to allow the business to purchases its new freehold premises.
Directors Mark and Paul have worked closely with Dave Smith, Relationship Director, at Lombard and Vanessa Stein at Lombard Vehicle Management together with the LVM Van team, who provided a bespoke finance package to allow the additional 14 vehicles to be acquired.
Mark Bolitho, Managing Director, Blue Flame (Cornwall) Ltd commented:
"I am delighted with our new vehicles and this investment is crucial to our service delivery and
business expansion strategy for this year and beyond. I am grateful to Dave, Vanessa and their teams
at Lombard who have enabled the fleet purchase to take place both cost effectively and smoothly, and
we look forward to working with them again in the near future. The new Volkswagen Caddy and Vauxhall
Vivaro Vans have all been equipped and delivered with a range of options which include hands free
telephone integration, a bespoke racking system, roof racks, pipe tubes, fire extinguishers, first
aid kits and hand cleaning systems"
Dave Smith, Relationship Director, Lombard, commented:
"I am thrilled for Mark and Paul and their business and am sure that the new fleet is going to make
a real difference to them moving forwards. Purchasing vehicles on contract hire is a popular choice
for many as it allows businesses to concentrate on their core business activities, whilst avoiding
the financial risk and administrative burden of owning their own vehicle fleet."
"Contract Hire fixes a price for use of a vehicle at the outset and it also allows for a structured renewal of vehicles, before age, mileages and breakdowns cause problems."
Craig Pascoe, Relationship Manager, NatWest, commented:
"It is great to see Mark and Paul, local businessmen, continue to succeed in these challenging
economic times. Blue Flame (Cornwall) Ltd continues to grow and reinvest into the local community
through employment and apprenticeships and provides a great service to the County. I look forward
to continuing our working relationship with them and wish them all the best for the future"
For more information contact:
Caroline Hill
07796 182703
Caroline.j.hill@rbs.co.uk
Notes to Editors
Lombard is part of The RBS group,
a large international banking and financial services company.
Headquartered in Edinburgh, the Group operates in the United Kingdom, Europe, the Americas and Asia,
serving more than 40 million customers. The Group provides a wide range of products and services to
personal, commercial and large corporate and institutional customers through its two principal
subsidiaries, The Royal Bank of Scotland and
NatWest, as well as through a number of other well
known brands including, Citizens,
Ulster Bank,
Coutts,
Direct Line and
Churchill.
