East Midlands-based Original Design Manufacture (ODM) specialist, Fabriweld, is constructing a strong future following support from Secure Trust Bank Commercial Finance, which is backing the next stage of its growth strategy.
The internationally recognised design and manufacturing company has received £2.15m of structured finance facilities to support the business as it prepares for a step change in growth. The financing package from Secure Trust Bank paves the way for investment in state-of-the-art automated manufacturing equipment.
Formed in 1979, Fabriweld provides high quality steel, aluminium and polymer product solutions to audio-visual display, hi-fi, healthcare and corporate furniture markets. It holds significant relationships with a number of recognised global brands and its products are exported to more than 30 countries worldwide.
Fabriweld was acquired in a buy-out transaction supported by Leeds-based Comhar Capital in August 2019 and boasts a workforce of 40 highly skilled staff.
As part of its strategy during a challenging two years, the Fabriweld management team intensified its focus on improving levels of operational efficiency, broadening its customer base and expanding product development capabilities, which includes a significant programme of capital investment to improve its factory infrastructure.
The support from Secure Trust Bank Commercial Finance has an important part to play in the development of this strategy and will ensure rapid progress towards even higher levels of service, product quality and diversification.
Liam Kerry, Financial Controller at Fabriweld, said: "Secure Trust Bank's knowledge of the sector was invaluable for our business. The team understand the dynamics of the retail sector and the ways we manage it. They were supportive and saw the opportunity we have here at Fabriweld to grow as part of our strategy. They were in our corner throughout and that relationship was vital in getting the deal done."
Paul Goodchild, Director at Secure Trust Bank Commercial Finance, said: "Fabriweld is a leader in the ODM sector and we worked closely with the management team to quickly establish the support it needed. As a respected business in its community, Fabriweld is now in a great position to benefit from the new and emerging growth opportunities for UK manufacturing."