DF Capital has been working with Lukas Distribution throughout 2022 to design a working-capital solution to enable it to import and distribute the iconic BSA Gold Star motorcycle in the UK.
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Lukas Distribution became the exclusive distribution partner for BSA Motorcycles in the UK and Ireland in 2022 and now manages UK logistics for the Indian-owned brand.
BSA, owned by Indian billionaire Anand Mahindra, agreed on a new import deal with Lukas Distribution earlier this year and said its vehicles will be available from the start of 2023.
Under a six-figure floorplan facility between DF Capital and Lukas’ UK dealer network, DF Capital will make upfront payments to Lukas Distribution on the dealer’s behalf when vehicles are delivered. The dealers will then pay DF Capital when the assets are sold, which should help free up dealers’ cashflow.
Luke Gregory, managing director of Lukas Distribution, said: “DF Capital has supported our growth over the past six months and this, in part, has contributed to the high sales we are seeing. We’ve sold a considerable number of units already – in advance of them being available and our high-quality dealers can use the flexible facility to make sure they have the right amount of funding at the right time. We’re expecting to sell over 1500 motorcycles in 2023 from our dedicated site so it’s important to have the right financial infrastructure in place to do this. It’s been a pleasure working with the DF Capital team – they’re knowledgeable, helpful and, most importantly, no one over-complicates things. We chose DF Capital over and above other banks because it is able to act quickly and the IT capabilities are first rate.”
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By GlobalDataAlexa Lemzaouni, programme manager – powersports at DF Capital said: “This is a big signing for both Lukas Distribution and DF Capital. It’s an absolute privilege to be involved with bringing one of the most exciting motorcycle brands in the world back to the UK and helping increase sales for both Lukas Distribution and its network of dealers. It wanted a flexible financier that could provide an alternative solution to traditional lending. We could see the potential in the business, so we quickly made the decision that we could definitely support the business’ growth and operations. We look forward to seeing where the company goes from here.”
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