Swords-based Dixon International is one of Ireland’s leading logistics and distribution companies. Established in 1979, this family run business specialises in both national and international haulage.
By using asset finance to recycle the cash that was essentially locked in their business, Close Brothers helped them complete an €800,000 buyout of Morgan International in 2013.
In addition, they needed to access important cash reserves being tied up in outstanding invoices and opted to use Close Brothers’ invoice discounting service for five years.
Most recently we assisted the organisation with the purchase of 10 new Mercedes-Benz Actros 1845 trucks via a leasing arrangement.
Michael Dixon, MD, said: “Close Brothers Commercial Finance was able to pay us, almost immediately, 85% of the value of our outstanding customer invoices. The difference between Close Brothers and various other local lending institutions was like night and day and all our dealings are carried out in a totally professional fashion.”