Originally founded as a generalist truck repair and maintenance service provider, CMS Hire initially dealt with repairing refuse collection vehicles and front-end loaders for local authorities. When local authorities had their vehicles in repair, they expected courtesy vehicles, which opened the door to market expansion for CMS. With an increasing demand for vehicle hire, CMS Hire typically let vehicles on a one-year lease, with shorter-term leases available for seasonal requirements.
Specialist Fleet Services
“This loan will be a catalyst for growth for our Company and enable us to purchase the vehicles needed to drive growth, expand our team, strengthening our ability to meet the forecasted high demand in our market.”
Director at CMS Hire
Growth and expansion
According to a report published by the BVRLA, the UK's vehicle rental and leasing industry contributes around £49 billion per year to the UK economy. The study also found the industry supports more than 465,000 jobs and generates £7.6bn in taxation annually.
The CMS Management team are highly experienced in the waste collection sector and have ambitious yet realistic growth plans to capitalise on the shift towards city clean air zones. The loan will enable the specialist refuse vehicle hire and repair specialist to purchase new vehicles, grow its fleet of Euro 6 compliant engine Refuse Collection Vehicles (RCVs) and expand its customer reach with its expanded offering.The business will also create 25 new jobs in Wolverhampton which includes the hire of top tier management.
Could MEIF Maven Debt Finance help fund your growth journey?
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