Nottingham manufacturer lands £2.2m deal with bank
Nottingham-based manufacturer Fabriweld has landed £2.2m of structured finance facilities from Secure Trust Bank which it says it will spend on automated manufacturing equipment.
Formed in 1979, Fabriweld provides steel, aluminium and polymer product solutions to audio-visual display, hi-fi, healthcare and corporate furniture markets. Its products are exported to more than 30 countries.
Fabriweld was acquired in a buy-out transaction supported by Leeds-based Comhar Capital in August 2019 and employs 40 people.
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.”