The Sussex-based Rabbit Group has invested in a substantial new shredder, as well as vehicles and construction equipment for its waste management and plant hire businesses.
With the help of Hitachi Capital European Vendor Solutions, Rabbit Group successfully applied for the Coronavirus Business Interruption Loan Scheme (CBILS) to enable business continuity during this challenging period, as well as investing for the future.
Rabbit Group typically replaces its equipment every three years, using finance to make these purchases. The company never had any issues with bank-based funding prior to the pandemic, but when construction sites shut down last March, its plant hire arm faced a significant downturn in business.
To allow the Group to purchase the necessary assets for business continuity, it identified CBILS as an ideal solution. Hitachi Capital was able to provide them with access to the CBILS and the company duly qualified for two hire purchase deals. The first enabled it to invest in a new UNTHA XR3000C mobile shredder and vehicles for its waste management business; the second bought new construction equipment for its plant hire division.
The UNTHA XR3000C is capable of generating a throughput rate of up to 25t/h. Unlike traditionally powered equipment, this electric machine will allow Rabbit Group to shred sustainably, with significantly reduced noise, to produce alternative sources of energy, such as biomass, refuse-derived and solid-derived fuels.
“The assets Hitachi Capital has enabled us to purchase are vital for securing the future of Rabbit Group. Hitachi Capital European Vendor Solutions took an interest in our business goals, was responsive to our needs, and worked hard to ensure we got the best deal. The security offered by the CBILS has allowed us to focus on rebuilding the business after a difficult year, and we are looking forward to putting our latest purchases to the test,” said Peter Gilmartin, finance director of the Rabbit Group.
While Dilek Mackenzie, managing director at Hitachi Capital European Vendor Solutions, added: “We were delighted to support Rabbit Group through its successful CBILS application and the subsequent purchase of new equipment. In particular, it’s fantastic to see that the investment has gone towards an eco-friendly mobile shredder, reinforcing Hitachi Capital UK’s commitment to supporting businesses working towards a green future.”