Keaveney Plant Hire acquires suction excavator with SME loan

By Tom Kilkelly

18 September 2023

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Credit: Keaveney Plant Hire

Kent-based Keaveney Plant Hire has used a share of its £450,000 SME loan to acquire a state-of-the-art suction excavator.

The Kent company secured the funds from Paragon's SME Lending Construction team and will use the machinery to meet escalating business demands and expand its service offering.

The newly acquired ESE 6 RD RSP Suction Excavator is mounted on a Mercedes Benz Arocs 8x4x4 Chassis Cab and features a fully hydraulic articulated hose carrier.

Managing Director of Keaveney Plant Hire, Andrew Keaveney, said: "Thanks to the support from Paragon Bank's SME Lending division we have secured the necessary financing to elevate our operations.

''The acquisition of the Suction Excavator enables us to meet the growing demand for this asset."

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Andrew also revealed that his strong rapport with Paragon's SME Lending team helped with the process of securing funds, as Keaveney had previously secured funds from Paragon for other reasons.

Keaveney Plant Hire Ltd is a division of the wider family-run business founded in 2007, The Keaveney Group. It is recognised as a key supplier in the industry.

Tracey Cronin, Business Development Manager in Paragon's Construction team, said: "We are thrilled to assist Keaveney Plant Hire Ltd in its journey of growth and fleet expansion.

''Our partnership with Andrew Keaveney andhis dedicated team has been further strengthened, and we take pride in continuing to provide financing solutions that drive its success."

By Tom Kilkelly

Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022.

During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan).

His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.