This 40 year old business is part of a major international group with a strong global market position supplying the commercial vehicle market. It has a strong market presence located in UK, Sweden, Germany, India, China and the USA.
The company has experienced substantial growth in recent years and worldwide demand for its products shows no sign of slowing down. Competitors are unable to match the product quality or service levels provided.
With the export content at 95% the existing lenders were beginning to be restrictive in the facilities they were providing and the company became increasingly concerned that this would impact on future growth potential.
The parent company wanted to be able to utilise working capital on a group wide level and we were able to source a £4m invoice discounting facility which enabled them to achieve this.