Aldermore Bank has strengthened its partnership with Select Plant Hire (Select), providing £2.9m of asset finance for modular accommodation, essential to the ambitious TransPennine Rail upgrade between Leeds and Manchester.
This funding marks a significant milestone in Aldermore and Select’s relationship with the funding of bespoke assets manufactured by Select for a key government backed project. Since December 2023, Aldermore have supported Select by financing a range of construction assets, including crawler cranes, scissor lifts, tower cranes, battery units, and mast sections. With this additional funding for the modular units, this now makes Select one of Aldermore’s key corporate customers with additional business opportunity to follow.
The modular units financed by Aldermore will provide critical infrastructure to the TransPennine Rail upgrade, a transformative project enhancing connectivity and boosting economic growth across the North of England.
Select, with over 30 years of experience, is one of the UK’s largest and most diverse suppliers of equipment and services to the construction industry. The company is also committed to achieving carbon reduction aligned with approved science-based targets.
Jon Burrell, Business Development Manager at Aldermore, commented: “It’s been a pleasure to support Select on this exciting project, which is set to deliver significant improvements to the region’s infrastructure. At Aldermore, we pride ourselves on being a trusted funding partner, helping businesses like Select to innovate and grow. Their commitment to sustainability and excellence in the construction industry is truly inspiring, and we look forward to continuing to support their journey.”
David Lane, Finance Leader at Select Plant Hire, added: “Aldermore once again have proven to be an invaluable funding partner. Their expertise and flexibility have enabled us to provide vital support to the TransPennine Rail upgrade, one of the most significant infrastructure projects in the UK. We value their dedication and look forward to continuing to build a strong relationship as we work towards our science based targets.”
The partnership exemplifies Aldermore’s commitment to supporting the UK’s construction and infrastructure sectors, enabling businesses to achieve ambitious goals and contribute to transformative projects that benefit communities nationwide.
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