Fleet advisory Puddy Vehicle Solutions (PVS) has launched a brokerage business for fleets, as well as other wheeled assets and plant and machinery.

Founder and managing director Marcus Puddy, formerly of Lex Autolease, told Leasing Life that two deals, of around £2m (€2.2m) each, have already been concluded, to finance machinery originated in Europe.

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The firm, founded in 2015, will predominantly originate finance lease and hire purchase in its brokerage operations.

Puddy said other products like contract hire will also form part of the brokerage offer, but may be less in demand from businesses that want to retain asset ownership.

The company will also broker sourcing and finance for vehicle conversions.

Puddy said: “We are continually asked to provide tailored finance solutions across a whole range of assets including cars, light commercial vehicles, HGVs, trailers, minibuses, emergency vehicles and coaches as well as plant and machinery.

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“We also have vehicle conversion specialists approaching PVS to help source finance for their customers who are unsure of who to approach to lend on the vehicles being converted. That is, I believe, a major growth area [for] PVS.”

“Many businesses require finance to fund assets and on completion of the payment terms want to take ownership of the vehicle or item of plant or machinery and sweat it as much as they can to obtain a fantastic return on their investment.”