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It is a new beginning for Croft Vehicle Services as
Page 52
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it aims to become a one-stop shop for trailer repair and refurbishment to save operators money.
Words / Images: Kevin Swaitow In October 2008, Paul Harrington, the managing director of Nottingham-based Croft Vehicle Services, concluded a management buyout of the firm from the Croft Group.
However, plans to develop the business hit the buffers.
"Last July, I put together a presentation to the bank for a new paint booth and they agreed," says Harrington. But, come October, it changed its mind as he took over the company.
This meant having to seek alternative funding, and that came in the shape of Hex Holdings, an independent automotive refinish distributor. "They financed the deal on a five-year commitment," reports Harrington, Nick Gray, branch manager of Hex Holdings in Shepshed, Leicestershire, says the company has been investing in these types of projects for more than 15 years. "It builds a long-term partnership with a customer; investment becomes a long-term relationship after the investment has been paid off," he says.
The first trailer into the spray booth is a Lawrence David 2002 tandem-axle curtainsider. The deal includes paints supplied from Ala° Nobel Coatings. Ken Deighton, the company's regional sales manager, explains: "We provide training and help estimate the amount of paint required for jobs. Its not just about tins of paint any more, we have to help the customer reduce unnecessary overheads:" Harrington adds: "By investing in a spray booth, we're keeping it all in-house and it helps maintain quality."
The spray booth, built by Mike Parsons, project manager at Dalby, is designed to cater for double-deck trailers.
Repairs to double-deck trailers are a growing part of the business, and the company, which turned over £1.3m in its last financial year, is looking to grow turnover towards £2.0m.
The recession, Harrington says, has hit sales for new trailers hard, allowing the second-hand market to take off, as well as repair and refurbishment. "A new curtainsider is worth around £13,000. By refurbishing an existing one, customers can save around £8,000-9,000," he says.
Creative approach
"In the current climate, you've got to be creative," he adds, "We are looking into a new avenue with the financial groups about buying older trailers off customers, refurbishing them and leasing them back."
"We also have some defleeted hire tractor units in through an existing customer, we have never sold on that side before," he says.
Scott Herishaw, Croft's business development manager, says existing work is split evenly between approved trailer repair and refurbishment for trailer manufacturers such as Cartwright, Lamberet, Montracon and SDC, and work with customers such as Aria Foods.
"The important thing is that we arc a one-stop shop, it's all in-house. Customers just want to phone, and get a problem sorted, that's all they want.We are looking to grow business by 45% with a [soon to be added] shot blasting facility and the paint booth in place," he says. B