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|Aldermore seals funding deal for West Yorkshire manufacturer|
|Tuesday, 30 August 2016|
V-Seal Ltd, a leading manufacturer of specialist seals and gaskets based in Halifax, West Yorkshire, has agreed a combined £250,000 invoice finance facility with Aldermore, the specialist lender and savings bank.
V-Seal is one of the leading suppliers of all sizes of seals and gaskets to petrochemical and oil refineries across the world. The company has built its reputation on customer service, particularly its short lead-times as it manufactures and despatches the majority of its gaskets on the same day, a speed to market that sets it apart in an industry where there is extreme pressure to keep production lines open. V-Seal was established in 1997 and currently employs 21 members of staff.
The extended funding, which augments earlier funds provided by Aldermore, will allow V-Seal to move premises and install a new laser cutting machine. This will enable the company to serve more customers globally and help it to cope with increasing demand for its products.
Mark Birks, Managing Director at V-Seal, said: “We’re keen to further develop and grow V-Seal and this funding is a crucial step in the journey. We will be upscaling our operations so that we can manufacture more products and serve more customers, with a particular focus on growing our export business.
“The team at Aldermore has supported us for several years and has a good understanding of our business and requirements. We chose Aldermore as they were able to provide us with funding tailored to our needs in a timely fashion, and the facility they have provided has been instrumental in enabling us to grow.”
St John Emms, Relationship Manager at Aldermore Invoice Finance, said: “V-Seal is a well-established business with experienced staff, and has enjoyed strong growth in recent years. We’re pleased to have been able to assist them by providing the additional funding they need to further grow their business, and we look forward to seeing how the company develops in the future.”
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