Reflex vehicle solutions reveal new investment

Reflex, one of the country’s fastest growing vehicle rental operators has announced plans to expand its fleet of vehicles via a £7.5million funding facility provided by Alliance & Leicester Commercial Bank.

Reflex, which is based in Stockton on Tees, has been in business for four years and has a rental fleet of over 6,500 cars and light commercial vehicles. The business provides flexible rental products for a large number of companies and public sector organisations.

In addition to the funding, Alliance & Leicester Commercial Bank has also arranged a medium term treasury facility which will protect Reflex against adverse fluctuations in interest rates, and allow for further borrowing to enable the company to fund future growth.

Commenting on the deal, John Collins, Managing Director at Reflex said: “In line with our plans to double the size of our business in the next 24 to 36 months we are pleased that Alliance & Leicester Commercial Bank has taken the time to fully understand our business and the terms we have arranged will contribute to us achieving our growth aspirations.”

Russell Cooper, Senior Business Development Manager for Fleet Finance at Alliance & Leicester Commercial Bank said: “Reflex is a well established company with plans for significant growth and we are delighted to have been able to support their ambitions. The treasury element of our agreement provides Reflex with the budgetary certainty they will require to achieve their future plans.”

For further information on the range of financial services available from Alliance & Leicester Commercial Bank, businesses should visit alliance-leicestercommercialbank.co.uk.