Jac Rijk turns to DLL for swift acquisition of used equipment with flexible financing

|Oct 10, 2022

When earthmoving specialist Jac Rijk was looking to acquire used equipment quickly, DLL teams collaborated to find the right financing option and provide the equipment swiftly.

Background – Who is Jac Rijk?
Established in 1933, Jac Rijk is a family-owned business spanning three generations. For almost 90 years, it has provided services to the world of earthmoving and mining, expanding to international markets over the last 15 years with multiple offices in Europe, Africa, the Middle East, and South America.

“Efficiency and safety in a harmonious working environment are essential points in our ambition as a company to meet our customers’ needs,” says Mark Rijk, CEO of Jac Rijk International B.V.

We achieve this through the high involvement of our valued teams, state-of-the-art technology and machinery, and a solid financial foundation."

Equipment needs are shifting
Jac Rijk’s forte is earthmoving, and it has acquired over 150 pieces of earth moving equipment spread across the globe.

“We are good at moving large quantities of dirt,” explains Rijk. “We work with large mining companies as well as with construction companies creating dykes, roads, and harbors, among other things. These activities require a lot of equipment.”

While around 80% of its equipment is purchased new, faced with extended delivery times and unknown pricing on new equipment Jac Rijk now regularly turns to used equipment channels to provide rapid solutions when equipment is needed urgently.

“Where we have projects that need to start quickly, we don’t have time to wait 12 to 18 months for new equipment to be delivered. This is where we turn to used equipment so that we can satisfy our customers' needs as fast and well as possible,” says Rijk.

Supplying the whole package – used equipment from DLL with tailored financing solutions
While this is not the first time Jac Rijk has done business with DLL, having previously purchased equipment through DLL’s remarketing channel on a cash basis, this is the first time Jac Rijk has financed equipment with DLL.

In this case, Jac Rijk required dump trucks for a mining reinstatement and recultivation project in Germany. Time was of the essence - and DLL had just acquired four Komatsu HM400 articulated dump trucks from a customer insolvency, which were advertised via DLL’s used equipment sales website.

“Delivery time and availability were the driving factors in selecting these particular trucks,” explains Rijk. “DLL had what we were looking for and could supply the trucks quickly. Because these are used trucks with low hours, we bought them just off the pictures. Then the financial deal was dealt with quickly and easily. The whole process went very fast.”

“We met with Jac Rijk to better understand its needs and challenges," explains DLL Account Manager, Heddi Khatib. “Thanks to our previous experience with similar customers, we are able to quickly facilitate finance from our credit and asset finance departments. Through close collaboration between DLL’s remarketing, credit, legal, risk, and asset finance teams we were able to facilitate a solution that kept Jac Rijk’s promise to its customers.”

What makes DLL different?

We need partners that understand our industry and the associated risks. DLL understands the process of buying and maintaining equipment properly and has the added benefit of offering both the equipment and finance in one place."

"While other companies offer used equipment and finance, it will often only be for a single brand. DLL offers a one-stop shop for a multitude of brands. As Rijk says, “It’s no use going to your preferred brand if they don’t have the equipment available.”

“DLL’s decision-making process is also very short and straightforward,” continues Rijk. “Our experience has been smooth, quick, and transparent. DLL wants, and is able, to understand our kind of business.”

“Times are changing and social media is becoming an increasingly popular platform to sell equipment from, especially LinkedIn,” added Richard McTurk, one of DLL’s International Asset Sales Managers. “We ran a specific post on the social network confident it would attract a wider audience, especially at a time of global shortages.”

 

What lies ahead for Jac Rijk and DLL ?

We hope to work more with DLL in the future, we have already had discussions about an ongoing relationship for more equipment as well as finance solutions. We want DLL to become part of our financial solutions for equipment finance."

“We’re aiming for partnerships, not one-off deals,” explains Khatib, “We’re now looking at Jac Rijk’s investment plans for the upcoming 12 months and seeing how we can support them. Jac Rijk is an international company and so is DLL. We have experience facilitating cross-border deals as well as financing new and used equipment in many different markets and believe we can offer tailored, flexible solutions to meet Jac Rijk’s needs.”

Learn more about DLL’s direct asset finance solutions for earthmoving and construction equipment and Used Equipment Sales.