Vital signs finance from Secure Trust Bank
SOLIHULL-based Secure Trust Bank’s commercial finance arm has provided a £2m invoice finance facility to a corporate signs business.
The facility has been agreed with Hawes Signs, the producer and installer of corporate images.
The Northampton-based company specialises in the production of corporate signs and images. The business has a strong client base across a range of sectors, reporting revenues of £22m in 2014, and employs 163 staff.
Hawes provides a confidential design and engineering consultancy service from concept to reality, being involved in the design, manufacturing and installation of its products.
As well as this, the firm’s specialist after sales sign maintenance team operates a 24-hour repair service. The team looks after in excess of 10,000 units, and has made over 17,000 site visits in the last 12 months.
The facility will enable the business to manage its cashflow as it looks to achieve its ambitious growth plans. Following its takeover by HLD Group earlier in the year, Hawes is looking to extend its client base as the HLD Group targets a £500m turnover in the next five years.
Demis Ohandjanian, CEO of the HLD Group, the parent company of Hawes, said: “For an SME, accessing finance is often a significant barrier to maximising growth, and this finance facility enables businesses like ours to adopt more expansive strategies and look towards the future with optimism.
“Secure Trust Bank understood our requirements and ambitions, and were able to offer an effective and timely solution. From introduction, the deal was completed within five days, meaning that we were able to continue the day-to-day operations alongside.”
David Parsons, regional director for the South and Midlands at Secure Trust Bank Commercial Finance, said: “Hawes is an innovative company with a proven business model and strong turnover, and we are pleased to be able to support the firm as it executes its growth strategy.
“The business has a unique offering in the marketplace, enabling it to provide a truly complete service to its clients.
“The continual support from the firm’s specialist maintenance teams makes the business stand out from the crowd, and with the support of an invoice facility, we expect the business to go from strength to strength this year.”
