Play equipment firm goes for overseas growth with £4.2m banking deal

Plum Products, the Lincoln-based supplier of children’s outdoor play equipment, has landed a £4.2m banking facility from Santander UK – and says it is targeting international expansion.

The Lincolnshire-based family business was founded more than 30 years ago and has reported a 30% turnover rise this year, with trampolines having proven to be particularly popular.

As part of the set of banking facilities provided, new invoice financing and trade loan facilities will also allow the business greater flexibility within its working capital cycle.

Paul Schaffer, managing director of Plum Products, said: “The open and genuine dialogue with the team at Santander has provided the basis for a strong, long term partnership. Their support will allow us to advance to the next step of our journey as an international business.”

Graham Watts, invoice finance director for Santander UK, said: “It has been a pleasure to work with the experienced and ambitious management team at Plum Products. By fully understanding the working capital cycles within their supply chain and the scale of their international ambitions, we have been able to provide a suite of facilities and expertise to support the business as it continues to develop globally. We are particularly excited to be able to utilise our international capability to support Plum’s ambitions global growth plans.”