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Leading media firm turns to Hitachi Capital for sale and leaseback
The deal provides A&N Media with a structure to manage the fleet within a centralised function, whilst Hitachi Capital administers the routine maintenance on the leased vehicles.
A&N Media said it opted for Hitachi Capital Vehicle Solutions due to the firm's ability to offer a rolling monthly contract hire agreement on each vehicle. This gives A&N Media the flexibility to extend contracts, regardless of the age of each individual vehicle.
Nick Jenkinson, head of Procurement at A&N Media, said: 'The Hitachi Capital team has provided us with a flexible solution to solve a complex problem. We appreciate their industry knowledge, which complements the expertise of our own group fleet director, Patricia Millard, and her fleet services management team. Everyone at Hitachi Capital has proved to be proactive and helpful.'
The deal comes as Hitachi Capital Vehicle Solutions reports growing interest in sale and leaseback, as businesses look to free up funds in order to invest in future growth. Derek Thornton, head of strategic accounts, commented: 'It’s an excellent way of consolidating a fleet, and enables the business to budget effectively over a fixed or flexible period of time.'
20 May 2010 11:34