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ELEV8 ACCESS PLATFORMS LTD

“Despite uncertainty, we needed to continue with business as usual”

Raising the game of a leading platform hire company

Located in Sheffield, Elev8 Hire is a provider of mobile elevating working platforms active across the UK and with a strong presence in France and Denmark.

Jason Machin, Managing Director at Elev8 Hire, says, “Elev8 was founded 13 years ago and now has the most varied fleet of large trucks in the UK. It’s vital we always have a strong handle on our cashflow so we can scale up operations as and when necessary.”

Overcoming Brexit uncertainty

Despite the years of steady growth enjoyed by Elev8, Brexit had a much bigger impact on the business than anticipated. Many customers took the decision to reduce spending across the board due to uncertainty around what lies ahead, putting unexpected pressure on the company. Not willing to stand still, Jason turned to a commercial broker that connected him with the good funding the business needed.

Jason says, “The result of the Brexit referendum certainly impacted our business. A significant portion of our customers decided to hold-off on deals in the immediate aftermath of the referendum vote. Despite the uncertainty, we needed to continue with business as usual so got in touch with my broker who recommended we partner with Ultimate Finance. Once introduced, Ultimate provided us with a £700,000 Asset Finance facility which we used to expand our fleet and continue going for growth.”

Flexibility is key

“Many lenders may have looked at the impact Brexit was having on the business and our customers and turned down our funding request. Not Ultimate Finance though – they looked at the 11 years of growth prior and understood that a one-year drop-off doesn’t equate to a poor business.

They therefore not only agreed to provide us with the financial support we needed, but also produced a flexible facility that suited our specific needs. As a result, we purchased a unique truck for use in the UK and have continued to go from strength to strength since,” Jason adds.

“Many lenders may have looked at the impact Brexit was having on the business and our customers and turned down our funding request, not Ultimate Finance though.”

Jason Machin, Managing Director

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