Calverley Business Secures £15m Funding

November 26, 2009 at 11:00 pm Leave a comment

Calverley firm looks to expand

By Chris Holland » Telegraph and Argus

A £15 million funding package will support long-term growth plans at Zenith Provecta, the UK’s leading independent leasing, fleet management and vehicle outsourcing business.

The Calverley-based company has secured the deal through Royal Bank of Scotland and will be used to support growth.

Zenith, established in 1989, bought Provecta Car Plan in 2008, creating the largest independent leasing company in the UK with 26,000 vehicles under management to mainly blue chip customers.

The company has a £116 million turnover and employs 148 people.

Zenith has continued to win new clients and has played a leading role in the development of transparent pricing, fleet outsourcing, ECO (employee car ownership) schemes and environmentally-aware fleet policies.

Mark Phillips, chief financial officer of Zenith Provecta, said: “The company’s performance remains very strong despite the wider economic difficulties currently being experienced.

“This additional support from RBS provides firm foundations allowing us to continue to grow in line with our objectives.

“We are delighted that RBS has shown its full support to us by backing our plans for significant increased demand over the coming months.”

Andy Killingback, of RBS in Leeds, said: “Zenith continues to outperform the market which is a great achievement in a challenging environment.

“The new financial package means that it can implement its plans from a sound and secure platform.”


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