Lookers hopes to boost energy efficiency with new £2m deal

Motor retail firm Lookers Group has settled on a new £2m asset finance deal in an effort to slash its energy usage.

The dealership chain, which is headquartered in Manchester, is set to take advantage of a tailored biomass heating and cooling solution from Barclays Asset Finance, in addition to a solar panel facility in Northern Ireland.

Lookers Group’s finance director, Robin Gregson, said: “Lookers is aware that our activities do have an impact on the environment.

“The group has made a commitment to reduce energy consumption and the installation of biomass heating and cooling plants throughout the group’s operations is one of a number of steps we are taking as a business.”

He added: “We have a long-standing relationship with Barclays and we are grateful they are supporting us on this journey.”

The deal, struck with Barclays’ Manchester office, involved Andrew Meadowcroft, the bank’s relationship director, and asset finance director Stirling Hulme.

Andrew commented: “The Lookers Group is a valued and long-standing client of Barclays. It is the value of this relationship and their unique property portfolio which allowed us to extend our products to support this transaction.

“Modern consumers expect businesses to robustly demonstrate their environmental credentials. As a result of this installation, Lookers will be able to utilise sustainable resources whilst creating cost savings across the business.”

Founded in 1908 and today operating across the UK and Ireland, Lookers posted a pre-tax profit of £65m and revenues of £3.4bn at the close of 2014.

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