Member Article

Partnerships secure expansion for asset finance firm

Praetura Asset Finance, which is based in Manchester and Blackburn, is expanding into Northern Ireland after joining forces with two financial organisations.

Launched in January 2014, Praetura offers funding options to assist with cash flow and is the first truly independently-owned asset finance company to enter the market for 15 years.

Praetura has selected Hanna Financial Services and Keys Finance as its Northern Ireland partners and will be working with the firms to provide bespoke funding solutions to help businesses release capital for business investment and growth, or to assist with cash flow challenges.

Managing director, Mike Hartley, was previously managing director of One Business Finance (part of Close Brothers) and has worked in the asset finance sector for 25 years. He said: “Our goal is to set a new benchmark for a service-driven, added value solution with a will-do ethos.

“With a combined experience of more than 200 years, we saw a gap in the market to launch our service in Northern Ireland, which is in the midst of economic growth and crying out for flexible funding options that aren’t available from banks.”

Praetura works with brokers, corporate financiers, auditors and turnaround specialists to provide a bespoke financing solution based on an individual customer’s needs.

Offering specific expertise in a range of sectors, including construction & plant, engineering, printing, transport, waste & recycling and agriculture, Praetura understands market pressures, seasonal and cyclical fluctuations and current trends.

The firm can often provide finance for companies that have been unsuccessful elsewhere by unlocking the value of assets in a business.

Mr Hartley added: “It’s all about a tailored service; we find out what the customer wants to achieve and work back from there to assess the most viable and advantageous finance package for them. For us it’s all about seeing the business case for growth, not the raw figures on a balance sheet.”

This was posted in Bdaily's Members' News section by Simon Malia .