A Loughborough-based transport solutions company has made a substantial investment in new buses after landing a funding deal through Nottinghamshire’s Affinity Asset Finance.
Vectare has enhanced its environmental credentials by acquiring ten Alexander Dennis Enviro E200 low carbon emission buses after securing a £2m deal arranged by Affinity, which used its expertise and broad funding panel to deliver the funding package.
Neil Kimberley, director at Affinity Asset Finance, said: “It’s been a pleasure to work with Vectare on this deal – and it’s great to see such a forward-thinking transport company investing in its business in this way.
“Since Affinity was set up almost 14 years ago we have been able to put together a panel of Tier 1 asset funders outside of the mainstream High Street banks who are moving away from this kind of funding.
“We believe in backing progressive companies and we wish Vectare all the best for the future.”
Vectare is a nationwide transport provider and will utilise its new fleet to deliver transport services for additional council contracts the company has won across the UK.
With pressure and demand for council transport services, Vectare is positioned well to continue to win and deliver contracts across the UK.
Dominic Kalantary from Vectare said: “We are a growing business providing high quality local bus services throughout the UK and where we can we always strive to be as climate friendly as we can be. That means upgrading and acquiring fleet stock that is as modern as possible.
“The Enviro200 is Britain’s favourite single deck bus with a lightweight design that makes it highly fuel efficient and cost-effective to run. Sourcing funding for these acquisitions is notoriously challenging but Neil and the team at Affinity made the whole process as seamless and as swift as possible. This in turn will enable us to fulfil an ever-growing portfolio of contracts across the UK in as an efficient and climate friendly manner as possible.”
