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Ogilvie agrees £100m worth of investment from HSBC

Date: 16 March 2015   |   Author: Daniel Puddicombe

Contract hire and leasing company Ogilvie Fleet has agreed funding with HSBC that will allow the company to double its fleet size by 2020.

Ogilvie said the bank's £100m funding arrangement would allow the company to compete for contracts with larger leasing companies. The firm currently operates a fleet approaching 12,000 company cars and vans.

The firm said it has "started to beef up its sales team" ahead of the expansion plans. The finance package includes rental securitisation and core asset funding, and was designed and arranged through HSBC's asset backed finance team, HSBC equipment finance and the Scottish Corporate Team.

"We are an ambitious business, looking to grow and create jobs. In recent times we have seen an increase in our customer base, invested in technology and devised a prudent disposal strategy, all of which is helping us reach our long-term goals," said Gordon Stephen, managing director of Ogilvie Fleet.

Ogilvie appointed David Raponi as its new business development director in January.

The firm said it has been the fastest-growing independent contract hire and leasing company in the UK for the last 12 years.

The company has traditionally focused on winning sub-100 vehicle contracts.

Ogilvie said Raponi - who has more than 20 years experience in the industry - would report to the leasing company's sales and marketing director Nick Hardy



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