CCR Magazine

CSA Top Banner
You are here  :Home arrow News arrow Bibby Financial Services structures ABL package for Surrey-based manufacturer
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Bibby Financial Services structures ABL package for Surrey-based manufacturer PDF Print E-mail
Tuesday, 21 February 2017
Bibby Financial Services, (BFS) has agreed a £2.4m Asset Based Lending package with Fixing Centre, a leading manufacturer of stainless steel anchors and fixings for the construction industry.

Based in Woking, Surrey, Fixing Centre is a provider of stainless steel fabrication and high performance anchors and anchoring systems, used in construction and engineering projects throughout the UK.

The business has set its eyes on strong growth over the coming years as key infrastructure projects including the building of the new Queensferry Crossing in Scotland, and the development of smart motorways such as the M3, begin to deliver revenue.

To gear up for further grow, Fixing Centre has agreed a £2.4m funding package, combining Invoice Discounting and Stock Finance, with BFS’s Southern Corporate team.

Colin Abbott, Managing Director, Fixing Centre said: “Despite a bit of a road block, the prospects for the next few years are looking very healthy as big government-led infrastructure projects, such as the new Queensferry Crossing, begin to deliver work.

“The Corporate team at Bibby Financial Services have been able to structure a funding package that meets our needs - both now and in the future - so that we can take advantage of these opportunities and substantially grow our business over the years ahead.

“For a business like ours, we can at times be stock heavy as we gear-up to deliver on big projects. Being able to leverage assets from within our business by working with a flexible funder like BFS gives us the freedom to concentrate on growth.”

Through its range of products, Fixing Centre provides the anchors and fixings for key motorway structures including crash barriers and overhead gantries.

Paul Fraser, Head of Corporate in the South, Bibby Financial Services commented: “Fixing Centre is a great example of a UK business that specialises in delivering high end niche products that are fundamental to delivering large scale infrastructure projects. “It was key for us to be able to leverage all assets the business had, including receivables and stock, to help unlock greater levels of funding to help the business to grow. “In order to structure this ABL package, we built up a strong understanding of the business and its ambitions and worked hand-in-hand with the executive team to make it work. In the space of three weeks we had undertaken a full stock audit of the business and provided the funding package they needed. This demonstrates our capability in structuring flexible ABL packages such as this and we look forward to a long and successful relationship with Fixing Centre.”
 
Enghouse Side Banner

CSA side

 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

CSA

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