TOWER HIRE AND SALES Ltd

THE BACKGROUND

Tower Hire and Sales are a premium established business with an enviable experience in the development and provision of innovative CCTV towers and temporary security solutions across the UK. At the helm are Mark and Jodie Davies as leading figures in the industry with over 30 years of trusted expertise. Together with their loyal team of operations and engineering staff, they have built a reputation for innovation and quality with work carried out to the highest standard, earning them key industry accreditations.

With much of their work and customer base dominated within the construction and engineering environment, the need for a plentiful supply of consistent cashflow has been essential to ensure a competitiveness within

a fiercely contested sector and the funding confidence to take on newer and more profitable clients. As Mark points out “the particulars of the housebuilding sector are such that we cannot afford for payments to be withheld or held up for incremental issues or queries that delay payment runs and so invoice finance with its guaranteed advances against our completed invoices works perfectly.”

THE CHALLENGE

Having used invoice finance previously, Mark and Jodie had unfortunately experienced frustrations with their previous lender and changes in both reporting structure and point of contact led them to be introduced to eCapital by one of their trusted intermediaries.

Despite a number of initial teething problems around the time of transfer and the components of the new facility with eCapital, some swift reconciliatory action by the Account Manager repointed the working relationship right at the very start. Since then, they have never looked back. From humble beginnings of around £8-10K per week the business took the decision to move to the wholesale market as part of its growth strategy. This proved challenging for several reasons and having successfully pivoted the business to focus on supplying solutions straight to end user (direct or via other security companies) this proved a decisive move. Tower Hire and Sales has achieved rapid expansion over the last few years and is now recording levels of £300k net per month. This impressive growth has been backed by staunch eCapital support with funding lines increasing throughout this period from an opening £50k to currently standing at £600k with plans for a possible further uplift to £1m during 2023.

THE SOLUTION

With no outside investors or formal banking facilities, the success of Tower Hire and Sales has been a huge testament to the strength of cashflow finance as a solution to achieve high level growth amidst funding surety. Despite the ravages of Covid -19 and the widespread effects of the pandemic across the business landscape, Tower Hire and Sales stood firm and as Mark points out; “Whilst lockdown had an indelible impact on the movement of people, our buildings and infrastructures still needed to be serviced or surveilled so to a greater extent, our operation wasn’t materially affected.”

“The deep understanding that eCapital have on my business and the direction that it needs to be travelling has been fundamental in its success. The certainty of funding that they provide, coupled with their no nonsense, straightforward and honest approach allows me to embrace business challenges and opportunities with equal desire and innovation.”

Tower Hire’s recent large scale company office move from 1800 sq foot to 6000 sq foot is further evidence of the exciting times ahead for this business.

Mark Finn, Regional Managing Director at eCapital said “Whilst the last few years for many businesses have been challenging throughout an unprecedented economic backdrop, it has been essential for us to be there for our clients to offer the cashflow and operating support to help them achieve their short, medium and longer term ambitions.

Our team has worked incredibly closely with Mark, Jodie and their colleagues at Tower Hire and Sales to ensure its impressive growth has been matched by a consistency of support and unique understanding of their cashflow needs. We look forward to sharing in their further business success throughout 2023 and beyond.”