Industry: Electrical and mechanical engineering
Product: Invoice finance and cash flow loan
Facility size: £4,375,000
The client is a large group of companies engaged in the design and manufacture of products for the oil and gas, electronics and mechanical and engineering sectors.
Established in 1999, the group has enjoyed growth, both organically and through acquisitions. The company had responded well to downturn in the oil and gas sector but found their incumbent lender being increasingly rigid in its approach.
Close Brothers has provided the company with a flexible funding solution, comprising invoice finance and a cash flow loan, to support the group in the next phase of its growth.