Romans of St Albans expands with the help of DF Capital’s flexible finance
Luxury car dealer unlocks growth and adds a new showroom with DF Capital’s support
Romans of St Albans, a luxury car dealer known for its prestige vehicles, has expanded its operations with the help of DF Capital’s flexible stocking finance. With DF Capital’s support, it has been able to free up capital, allowing the business to add another showroom and continue its impressive growth.
About Romans of St Albans
Founded by John Falletta, Romans of St Albans has over 100 years of experience in the motor trade. The team of five shares a passion for luxury cars and takes pride in offering some of the finest examples on the market, including Porsche, Ferrari, Aston Martin, Bentley and Maserati. With a focus on customer service and quality, the business is a leading name in the luxury car sector with two showrooms in St Albans.
What did Romans of St Albans need?
As the firm looked to grow, the senior management realised it needed a more flexible and tailored finance solution that could evolve with the business. The goal was to access capital more quickly and scale up stock levels without the limitations experienced in the past. To support the ambitious plans, founder John Falletta sought a funding partner that understood the unique demands of the business and could offer a facility that allowed it to move fast and seize new opportunities.
How did DF Capital help?
DF Capital initially provided a £1m stocking facility, advancing 80% of a car’s value. As the dealership grew, DF Capital increased the facility to £3m with a 100% advance. Now, when a vehicle is listed, the funds are often available by the end of the day. This flexibility has allowed the business to manage cash flow more effectively, opening the door for expansion – including adding a second showroom.
Results
With DF Capital’s support, Romans of St Albans has become more effective and able to grow at its own pace. Now operating from two locations, the business was awarded the Independent Premium Car Dealer of the Year award at the annual Motor Trader Independent Dealer Awards in July 2024. The company has since been nominated for four more Motor Trader awards. DF Capital’s flexible finance has provided the firm with the breathing room it needed to continue thriving.
John Falletta, founder of Romans of St Albans, said, “It’s like winning the lottery working with a flexible lender that understands my business like I do – particularly in a challenging year for the prestige car market. DF Capital has helped me get to where I wanted to be and I really value the personal touch. I use the facility like my own money and only buy something if there’s a profit in it.”
Nevada Thackery, client manager at DF Capital added, “We saw Romans’ of St Albans’ potential and wanted to support the John’s vision for the business. By ensuring that he has the right facility with the right terms, we’ve given him the freedom to invest in his business as needed. We know that in this market the ability to buy correctly is essential in order to seize new opportunities and we’re proud to have made that possible.”
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