Parsons Containers has revealed details of a new partnership designed to make it easier for organisations and individuals to acquire shipping containers. Parsons has secured a licence from the Financial Conduct Authority to refer potential customers who need finance to Kennet Equipment Leasing Limited. The new partnership between the two firms is now live and will allow more businesses, community groups and private individuals to obtain shipping containers through leasing arrangements.
Based in Sedgefield, County Durham, the Parsons Containers Group is a long-established supplier of shipping containers by sale and hire throughout the UK. Since it was founded by entrepreneur Ean Parsons in 2000, the company has built a reputation as one of the UK’s largest multi-discipline shipping container businesses. All of the group’s divisions have experienced significant growth in recent years and Parsons now runs a substantial national container sales operation and also has multiple sites, including a strong presence in the North East and Lincolnshire.
Kennet Equipment Leasing Limited has been providing businesses with equipment finance for 30 years. With access to over 25 banks and funders, along with reserves of £50 million of its own money, the company’s aim is to support UK businesses so that they can get the kit they need.
Helen Parsons, finance director at Parsons Containers, comments: “Our significant growth in recent years is linked to Parsons’ reputation for high standards of customer service and the growing appeal of shipping containers. Increased demand comes hand in hand with the need to improve the options open for customers to finance their requirements. So, we’re delighted to have secured a licence from the Financial Conduct Authority that allows us to broker credit agreements, and we are equally pleased to have found an excellent partner to work with in Kennet Equipment Leasing. These are exciting times for Parsons Containers and this latest development will support our longer term business strategy.”
Mark Suckley, sales director at Kennet Equipment Leasing, adds: “The current legislation around consumer and business finance can be daunting for any business. Kennet is delighted to have supported Parsons Containers to become FCA authorised, since it will significantly increase the ability of the team there to broker both regulated and limited business finance.”
In 2018, the Parsons Containers Group secured investment of £825,000 to support the expansion of its operations across the UK. The funding came through Maven Capital Partners, one of the UK’s most active private equity houses, through the Finance Durham Fund and the North East Development Capital Fund, which injected £500,000 and £325,000 of capital into the business respectively. As part of its ongoing business development plans, earlier this year Parsons opened a new 2.2-acre site for its U Hold The Key self-storage business under the Tees flyover and close to the A19, and is expected to announce details of more new sites in the near future.