DLL is committed to driving lasting solutions for asset finance in the transportation sector. Here, we talk to Neal Garnett, President of the Global Business Unit for Construction, Transportation and Industrial, to learn more about how DLL delivers innovative financial solutions that meet the unique needs of manufacturers, distributors, dealers, and users of transportation equipment.
Neal, firstly what is your experience in the transportation industry?
Since joining the leasing industry in the 1990’s I’ve been involved with various transportation vendor programs from a commercial perspective. Most recently, I sat on the board of a European Transport Joint Venture and was involved in projects with an international rental company and a last mile delivery provider in Southern Europe utilizing electric vehicles.
Also, I recently joined a combined program together with Rabobank focusing on E-Mobility. Here we are building new commercial propositions to support our customers in the transition towards a Zero Emission fleet. Together, we might be able to offer customers an interesting proposition with financing, charging infrastructure, fleet maintenance, fleet management and much more.
Could you explain the history of DLL in the transportation sector?
DLL has been doing business in transportation for 20 years. In the transportation sector specifically, we form partnerships with Original Equipment Manufacturers (OEMs) and dealers to help them win more business through solid finance solutions. We make it possible for transportation manufacturers to directly add financing solutions to their equipment offering, even if they haven’t traditionally done so.
Due to a long standing exclusive international Joint Venture, we haven’t always been able to serve the whole market, but that has changed. Today, it is time for us to be part of a transforming industry with new waves of technology. We are actively involved in supporting different OEMs and solutions providers, including new and emerging companies, helping them to grow profitably and quickly by leveraging our international and local asset finance know-how, and associated product and service solutions. We try to ensure we work with organizations where we can really add value and are the right partnership fit.
Could you share a few of your latest customer success stories with us?
Thermo King is a great example. The company provides reefer units for cool trailers and had desire to move into providing the complete trailer package, cooler included. This is a great example of a business needing investment and expertise to widen their asset footprint with a new venture. We were able to move fast and support them with this.
Another success story is our partnership with , a leading manufacturer of fully electric commercial vehicles, to provide financing options for electric trucks. Clean technology and transportation very important to DLL, so we are happy to be working with a leader in the electric vehicle industry to help enable the transition from traditional diesel trucks to electric.
We also do direct business. Picnic in the Netherlands is a great example of this. Here, we are working with an up-and-coming vehicle manufacturer to finance fleets of electric last mile delivery vans for grocery deliveries.
These are just a few of examples. We are having discussions with many manufacturers and solutions providers on how we can support in different segments and new projects, helping them to get asset finance solutions in place ready to grow in the ‘new normal’.