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Leicester-based D & M Tankers Ltd secures asset financing to acquire new DAF lorry

29 Jul 2019

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Leicester-based D & M Tankers Ltd, specialists in liquid waste disposal across the East Midland, has secured asset finance funding from Cambridge & Counties Bank to acquire a new specialist vehicle and help expand the business.

Leicester-based D & M Tankers Ltd, specialists in liquid waste disposal across the East Midland, has secured asset finance funding from Cambridge & Counties Bank to acquire a new specialist vehicle and help expand the business. The funding was secured through D & M Tankers’ long-time finance broker, Simon Moult of Leicestershire based All Finance Solutions.

Established by founder Darren Mayes in March 2007, D & M Tankers has become a major player in the waste disposal sector, including cesspit and septic tank emptying, high-pressure jetting and CCTV drain surveys. The firm has established on-going relationships with a large number of corporate clients including Tarmac and Breedon Aggregates.

While the business has previously rented a vehicle, the funding from Cambridge & Counties Bank has allowed it to purchase a hi-tech DAF CF 340 FAT truck with a 3,000-gallon jet vac combi unit. The new vehicle will not only allow the firm to deliver more services to a wider client base, it will also save on rental fees, is considerably more efficient and means that less drops are required.

Working extensively with brokers such as All Finance Solutions, Cambridge & Counties Bank has seen strong demand for its competitive asset finance products from SMEs looking for flexible funding solutions. One of the key benefits of asset finance is that, while a lot of companies rent equipment, asset finance facilities allow them to own the equipment outright which can accelerate growth.

Darren Mayes of D & M Tankers Ltd, said:

“We’re thrilled to be able to make this investment at this key time in the business’ growth story. The service from both Simon at All Finance Solutions and Cambridge & Counties Bank has been exceptional and we are now focused on maximising the impact of our new vehicle for the benefit of our clients in the East Midlands.”

Arshad Miah, Business Development Manager, Cambridge & Counties Bank, said:

“We are delighted to be able to support Darren and his team to capitalise on strong demand and purchase this new truck. Having the right assets at the right time is key to keeping businesses competitive and thriving, and we’re proud to be able to deliver timely and suitable finance so our customers can acquire the assets they need at a point that suits them.

I would also like to thank Simon Moult of All Finance Solutions for bringing this new customer to us and look forward to building on this relationship going forward.”