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Picking up the pieces
Page 26
Page 27
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Transrent's collapse gave Cat-vvright the
chance to move into rental. Kevin Swallow speaks to Steven Car:wright and Phil Rodman.
The downfall of trailer-rental company Transrent in January left 752 Cartwrightowned trailers on operating lease dangling in the wind (CM 22 February 2007, 'Mixed fortunes as prices fall in the used trailer sector'). In fact the true portfolio was much bigger. In the previous10 years Cartwright moved 3,000 units through the rental company, mainly to third-party customers who had used Cartwright Finance (a joint venture withThe Royal Bank of Scotland) to fund the trailers.
Director Steven Cartwright explains: "Those [financed] trailers weren't affected because we got the customer signed up direct with Cartwright Finance. Where we were done was the [Transrent] fleet trailers.., we had to find 752 trailers."
Phil Rodman, previously director for the northern region of Transrent, joined Cartwright as a director for used and rental stock."We've found most of them," he says. "The administrators helped,noting where everything was on the last day. We let Vosa know the C-numbers so when they come up for MoT they are being flagged up."
The next challenge was making the homeless trailers pay their way. Preparation came in the form of Cartwright's Transport Services, responsible for rental, long-term lease and a few spot-hire trailers.
Now branded Cartwright Rentals, it took in the former-Transrent fleet trailers.The effect was immediate, doubling turnover to ilOm this year and increasing the fleet to 2,500 trailers. "We're invoicing double the amount with customers from liansrent," says Cartwright. "Al] the [established Cartwright] customers Asda,Argos.Malcolms,TNT, Royal Mail, Excel Logisticshave never considered us a spotrental company. We've gone onto approved lists with our own customers.The hard bit is getting in there.We've never done rental with them: now we're adding another product feature.
Including Cartwright Finance, the overall portfolio is 8,500 trailers plus a small collection of tractors, rigids and plant."A lot of that is on long-term lease and lease with no maintenance," he says. "They run it, and after seven years they hand it back.We give it a check over -it might be re furbished,sold or rented."
Prior to Cartwright Rentals' instant growth it had built up a strong demand for rented double-deck trailers. Manufacturing has increased year on year since it built its first double-decker in 1988: today it accounts for 7% of production out of Alt rincham.
-It's a growing area." says Cartwright. -We're building more low-height doubledeckers for low-height pallets with height restrictions with the swept front." Haulier Downtons is its latest new customer.
At the CV Show, a recyclable double-deck trailer was unveiled in Royal Mail colours. "This year's seen a general increase,vvith 140 from the Royal Mail,he says."We'll do well over 300 units this year."
Cartwright snapped up a lot of doubledeckers last year, including Don-Bur trailers, to boost its rental fleet: -We've got about 120 on our rental fleet. We put our first [rental] double-decker into Asda [for a trial]; now we're building them new ones."
When it comes to rental.Rodman explains that Cartwright Rentals' curtainsiders and vans compete directly with Hill Hire and TIP "With double and treble-deckers we're not competing with anyone because no one has them.
Cartwright adds: "Everyone is struggling to get rental equipment. Customers ask 'have you got anything?' But they only want to pay £60 a week. A car trailer for the weekend from lndespension will cost that and that's without service and MoT."
Rodman is keen for stock from part exchanges, leases and purchases to be refurbished and working before it is considered for the used division. AgeingArgos single-axle urban box trailers and DHL twinaxle box trailers litter the yard at Wyvenshaw. They arc back in fashion,says Rodman, as retailers need them for Christmas With expansion comes backup. parts and customer satisfaction. Cartwright points out that the firm can provide strong warranty support because it enjoys a lot of buying power through direct contact with axle, tyre and brake trianufacturers:"We're able to negotiate good terms for parts and warranty, and reflect that back into the rental side.
"Cartwright and Cartwright Finance work hand in hand," he adds."It's easy to generate the business, but without the manufacturing you haven't got the finance. Quite often without the finance you haven't got the manufacturing— it's very competitive because there is no middleman, no brokerage."
When the manufacturer took on its Transrent stake there was scepticism that it could make rental work. "A lot of people were saying they are a manufacturer, what do they know about rental'?'.Cartwright says."If we try something, we try to make it work." •