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Cawarden Co LtdExcavator finance case study

Supporting British businesses

Demolition firm Cawarden is a long-standing, mid-sized company in the construction industry that has relied on the expertise at Paragon time and time again to keep its business well-equipped.

As a leading company in this industry, responsible for demolishing landmarks including Leicester Royal Infirmary and Derby County Football Club’s Baseball Ground, it knows the importance of using a reliable specialist lender that can quickly arrange finance.

Owner William Crooks has used Paragon to upgrade machinery from excavators to mobile crushers and attachments as he normally has 15 to 20 active sites in operation at any one time.

Paragon doesn’t just know about the finance, it understands the business I am in and the machinery too

A latest deal with Paragon involved buying a range of equipment including a new 290 Komatsu hydraulic excavator to use on a demolition site in Burton upon Trent where Cawarden knocked down a former bottling plant to make way for new housing.

Cawarden chose to upgrade to the new machine as it can change attachments from a shear to a bucket in seconds, making it more productive, but needed to get the deal arranged swiftly.

William Crooks, who has over 30 years’ experience in the demolition industry, is a member of the National Federation of Demolition Contractors and its former Chairman for the Midlands and Welsh regions, said: “What is important to me is that Paragon doesn’t just know about the finance, it understands the business I am in and the machinery too.

Whenever I do a deal through Paragon, I know I will get a good quality service and if there is a problem, the team is just a phone call away.

Everything is made so easy and I trust Paragon to get the job done.”

How Paragon helped

Paragon has supported Cawarden in financing a range of large and small machinery including a hydraulic excavator and attachments over several years.

With asset refinancing and flexible terms available, Paragon is able to quickly arrange loans that enable Cawarden to borrow over five years with a 10% deposit. This also gives Cawarden time to arrange a buyer for the older equipment being replaced.

Using a combined knowledge of the industry, equipment and finance, the emphasis is always on understanding what is best for Cawarden to secure the machinery it needs to succeed.

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Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551