Manufacturer switches to IDeal for continued expansion
Industry: Manufacturing
Product: IDeal and GGS top-up
Facility size: £1.17m
The client
Established in 2006, this specialist engineering firm is a recognised leader in lightweight composite manufacturing. With a strong reputation for technical innovation, the business supplies advanced components to sectors including Formula One, satellite communications, electric vehicles, space, defence, and automotive.
From precision tooling design to full component assembly, the company plays a vital role in helping clients bring complex engineering concepts to life.
The challenge
As the business scaled, so did its funding requirements. Although its previous invoice factoring facility had supported earlier stages of growth, notably during periods of limited internal resources, it no longer suited the firm’s evolving needs.
The company sought a more flexible, cost-effective solution that would offer seamless integration with its accounting system, reduce administrative burden, and work well with the seasonal requirements of their clients in Formula One. A key priority was moving to a new provider quickly and without disruption, ensuring continuity while increasing capital to support expansion.
The solution
Close Brothers Invoice Finance delivered a £1.17m invoice discounting facility through our IDeal platform, enhanced with a £270,000 top-up via the Growth Guarantee Scheme (GGS).
IDeal integrates with over 200 accounting platforms and provides daily automated reconciliation, real-time sales ledger extraction, and instant access to up to 90% of outstanding invoice values. This ensured a smooth transition and allowed the business to continue operations without interruption.
To provide additional flexibility, the firm also accessed the Growth Guarantee Scheme, a government-backed initiative designed to support UK SMEs. The GGS top-up helped unlock further funding, giving them greater headroom to manage day-to-day cash flow and invest confidently in its continued growth.
The result
The move from invoice factoring to discounting has given the company a scalable and cost-efficient funding structure. By removing reliance on third-party credit control, the company has improved cash flow management and reduced operating costs.
IDeal’s automation features have improved efficiency, freeing up time for the finance team to focus on strategic activity.
The team structured the facility around the client’s trading patterns and growth objectives, and they completed the transition in just three weeks. With a flexible, technology-led solution in place, backed by the additional headroom provided through the GGS, the business is well-positioned to seize new opportunities and respond to market changes with confidence.
