Investec Asset Finance has appointed of a new specialist materials handling asset finance team.

The team of six, led by Andrew Woodward as Head of Materials Handling, has joined Investec from Aldermore Bank, where Woodward and the team set up the materials handling division.

During their time at Aldermore, the division reportedly became the largest independent funder of materials handling equipment in the UK.

Gill Coupland, Linda Hide, Mandy Holcroft, Stacey West and Jon Hussey will be working alongside Woodward in the new team which, together, will bring over 90 years of experience in the materials handling sector.

The appointments are part of Investec Asset Finance’s strategy to increase its offering to both UK SMEs and larger corporations across a range of distinct markets whilst maintaining its premium customer service levels.

The hiring of the materials handling team follows a recent survey carried out by Investec Asset Finance showing that 53% of materials handling brokers expected their business sales volume to increase by 15% or more in the next 12 months.

Mike Francis, Head of Asset Finance at Investec, said: “The materials handling team represents a move into a new sector for Investec Asset Finance in the UK as the business looks to capitalise on the recovery in the wider UK economy. We are delighted to be welcoming Andrew and his team to the company. Their extensive industry experience in the materials handling sector and excellent track record will be invaluable.”

Andrew Woodward said: “Investec Asset Finance plays an important role in enabling access to funding for SMEs and larger corporations and I am pleased that myself and the team will be able to expand this opportunity to companies operating in the materials handling sector.”