London and Essex-based crane hire specialists DSM Contract Lifting Services has added over £1 million of assets to its fleet after securing finance from Paragon Bank. 

Across six agreements, DSM has acquired four Böcker truck mounted cranes, a spider crane and a specialist HGV Hiab – expanding both the range of services it can provide clients and the volume of work the company is able to undertake.

Founded in 2017, DSM operates throughout London and South East England and work with all major contractors to provide lifting and transport services, including high-profile, specialist work with Government bodies and heritage sites.

The assets acquired include Böcker truck mounted AK46 and AK52, a Volvo FH crane lorry with 31m of reach, and a Jekko 650SPX Spider crane.

The Paragon-financed cranes are set to play a key role in the celebrations for the coronation of King Charles III, with DSM contracted to help raise the flags that will line the route from Buckingham Palace to Westminster Abbey. The company also provided crane services for the preparation of funeral of her Majesty Queen Elizabeth II.

The funding was arranged by Tracy Cronin, Business Development Manager in Paragon’s Construction Finance team.

Commenting on its role in the King’s coronation and relationship with Paragon, DSM’s Managing Director, Melyvn Rogers, said: “We were honoured to provide our services to support the funeral of her majesty Queen Elizabeth II, and we are proud to continue working with Government and industry partners to help deliver the coronation of his majesty King Charles III. To be entrusted with this responsibility is a reflection of the standards we strive to deliver for our clients – and we are delighted to provide them thanks to the support we receive from Paragon.

“Paragon’s Construction Finance team has been the ideal funding partners for DSM Contract Lifting Services. They share our enthusiasm for providing the highest quality of service and were committed to providing a financing package that supports our business. I look forward to continuing our partnership in the years ahead.”

Commenting on Paragon’s financing support for DSM, Tracey Cronin, Business Development Manager in Paragon’s Construction Finance team, said: “I am delighted to work with DSM Contract Lifting Services and support its growth. SMEs, such as DSM, play a vital role in our economy and it is essential that they can access the funding they require the assets necessary to expand and refresh their fleet – and Paragon is proud to support businesses throughout the country to achieve their goals.

“It is wonderful to know that units we’ve financed are going to be put to such fantastic use. The eyes of the world will be watching the King travel to the Abbey and it will be great to know that assets we’ve financed will have been part of the celebrations.”

For further information contact:

Tom Frew
Media Relations Manager
Paragon
E: [email protected]
www.paragonbank.co.uk 

Notes to editors:

Paragon Bank PLC a subsidiary of the Paragon Banking Group PLC which is a FTSE 250 company based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group PLC has over £14 billion of assets under management, helping more than 340,000 customers to achieve their ambitions.

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.