CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow BFS provides growth fund to local sample book manufacturer
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
BFS provides growth fund to local sample book manufacturer PDF Print E-mail
Tuesday, 31 January 2017
Bibby Financial Services has agreed a new funding package with Sampling International, a sample book manufacturer from West Yorkshire. The £1.1million injection of funding has enabled the business to undertake a management buy-in and will also provide ongoing working capital support. 

Sampling International, based in Batley, manufactures sample books for upholstery ranges for leading high street retailers and manufacturers in the UK. At its manufacturing plant, manned by a staff of 130, Sampling International produces over 50,000 sample books per year as well as 300,000 carpet sample cards for the commercial sector.

Commenting on the funding agreement, Stephen Hubbard, Managing Director, Sampling International said: “We needed an injection of capital to help fund the retirement of one of our director/shareholders. It was at this point that we turned to Bibby Financial Services, who we had previously worked with, to provide the funding we needed.

“We also looked at our ongoing financing position and worked with BFS’s Corporate Finance team, with whom we had previously worked, to secure a flexible funding package. The nature of our business and customers means that we often have significant peaks in the summer and in the lead up to the New Year. During these periods we have to increase production, sometimes bringing in extra staff. Having a funding partner with expertise in structuring flexible working capital packages is a huge advantage. Furthermore, having funding in place to support these peak periods gives the business a chance to plan better.”

Putting the new funding to use, the business is expecting to hit a 10% growth target for 2017 and is considering possible expansion into other markets.

David McIntyre, Corporate Manager, Bibby Financial Services commented: “Sampling International is a great example of the products and services that SME businesses create that often go under the radar.

“Having worked with them in the past, we already had a good understanding of the business and strong relationship with the directors. However, as with all businesses, it was vital to understand the trading cycle of their business, and the cash requirements. Through this we were able to provide a flexible multi product funding facility that will support the growth of the company.”
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197