BNP Paribas Lease Group has entered into a new joint venture partnership with JCB to offer retail and wholesale financing solutions in JCB’s European markets.
The JCB Finance joint venture in Europe will offer a full range of leasing and other retail finance programmes to create new sales opportunities for JCB machines in Europe, as well as providing flexible facilities to support dealer inventory and demonstration equipment requirements.
BNP Paribas Lease Group is Europe’s leading specialist in equipment financing with over 50 years’ experience. We have worked with them successfully for over three decades. And I am delighted that we can now bring our two market-leading organisations together to invest in a substantial and exciting new venture in support of JCB customers and dealers, says David Miller, managing director of Financial Solutions, JCB.
In 1994, after many years of collaboration in France, the two organisations created their first joint venture dedicated to financing JCB’s French sales. Since then, cooperation between BNP Paribas Lease Group and JCB has continued to grow in Europe and, more recently, in India and North America.
JCB has grown rapidly in recent years to become the world’s third largest manufacturer of construction equipment. In seeking to continue this impressive growth we want to enhance the support available to customers for JCB machines by providing more innovative and comprehensive financing solutions. We also want to improve the financing support available to JCB dealers. The creation of our new JCB Finance joint venture in Europe is an important milestone, enabling us to meet these aims in a number of key markets for JCB products, added Miller.
The joint venture, 50.1% of which is held by BNP Paribas Lease Group and 49.9% by JCB, will initially offer retail financing solutions for new and used JCB machines in France, Spain, Italy and Germany with extended services and territorial coverage planned in due course.
“The signature of this new JV partnership with Europe’s leading construction and agricultural equipment manufacturer is a major step forward, reaffirming the long-standing relationship between BNP Paribas Lease Group and JCB,” says Bertrand Gousset, managing director of the Equipment&Logistics Solutions International Business Line, BNP Paribas Lease Group. “Accompanying JCB in its development initiatives is a challenge we are happy to take up. Together, we will build new financing solutions that will allow us to create and shape the future of this high-growth sector.”