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  • Business: Modular accommodation and containers
  • Finance: Hire purchase
  • Purpose: Meeting customer demand
  • Tags: modular containers, accommodation modules

The Ferguson Group, established in 1976, services the accommodation and container needs of the oil and gas industry in the North Sea, Norway, Australia and Singapore. Based in Aberdeen, the Ferguson Group is made up of several international businesses providing a range of high-quality accommodation modules and container rentals.

“The Ferguson Group, established in 1976, services the accommodation and container needs of the oil and gas industry in the North Sea, Norway, Australia and Singapore. Based in Aberdeen, the Ferguson Group is made up of several international businesses providing a range of high-quality accommodation modules and container rentals.”

Mike Melville
Modular Financial Director, Ferguson Seacabs

What did Ferguson Seacabs want to achieve?

Ferguson is a major worldwide operator and has to react quickly to changes in customer demand. The company required funding to increase its container rental fleet from 12,000 to 14,000 as well as funding for an additional 80 accommodation modules for its international oil and gas rental fleet. The modules are a significant part of the business, providing business-critical temporary accommodation to onshore and offshore locations.

How did Lombard help Ferguson Seacabs?

Lombard created a tailored £20m finance solution to fund the accommodation modules and containers. Because Ferguson had used Lombard before, the credit facilities were already in place to ensure the funding was delivered quickly. Lease purchase allowed Ferguson to avoid drawing on vital cash reserves and the income generated by the assets means that over time they will effectively pay for themselves.

How has Ferguson Seacabs benefited from the solution?

Ferguson increased its container fleet from 12,000 to 14,000 and its international oil and gas accommodation module rental fleet to 250 modules, further supporting its position as a market leader across the world.

At a glance

  • £20m has helped enable Ferguson to increase its container fleet and become a major worldwide operator
  • Lombard's efficient funding provides Ferguson with the flexibility to react to customer demands
  • Lombard has continued to support Ferguson's development over more than a decade

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