Asset Finance helps glass bottle manufacturer deliver on their sustainable goals

The customer

We’re dedicated to working with our brokers to support businesses finance the assets they need. Among these brokers is First County Finance who introduced us to their customer, a global leader in glass bottle manufacturing. The customer champions the circular economy and sustainability in the glass production process. They do this by using recycled glass and sand sourced from the local area instead of importing from abroad.   

The deal

The customer stores their bottles on wooden pallets that can break down and need replacing if exposed to the elements. To extend the usable life of these wooden pallets and meet their sustainability goals, they were looking to finance a large temporary building near their factory that would protect them.

Peter McCullough at First County Finance worked with his customer to structure a proposal with an advance of £1.3m on a finance lease over 6 years. With the building coming from overseas, we worked with Peter and the First County Finance team to seamlessly arrange the finance so that everything could be installed on time.

Arran Wells, business development manager, Aldermore Bank

“We were delighted to be part of such an important solution that helped the customer enhance the sustainability of their manufacturing process and meet their environmental objectives. Thank you to Peter and the First County Finance team for introducing this innovative financial solution to us. We look forward to working with them in achieving the sustainability goals for more of their customers.”

Peter McCullough, First County Finance

“At First County Finance we enjoy seeing this type of progressive investment through from start to finish. It was a pleasure to work with our customer, the supplier and the team at Aldermore. We structured the finance package to go hand in hand with supplier terms and our customer’s budget. The customer’s strong sustainability credentials add a further incentive for both First County and Aldermore. We continue to look at furthering every opportunity possible in this sector of the asset finance market.”

T&Cs will apply, subject to status and affordability. Any asset used as security may be at risk if you do not repay any debt secured on it.