Future looks positive for ECL

A CHESTER company which supplies composite materials to customers the construction, civil engineering, marine, rail and utilities sectors has secured a £550,000 funding deal.

Engineered Composites (ECL) will use the funding facility from Manchester-based invoice finance specialists Positive Cashflow Finance to help it plan for further growth.

ECL was established by Dr Andrew Downey in 1986.

Nicki Thelwall-Jones, director at ECL, who has taken over the day-to-day running of the business from Dr Downey, said: “The funding facilities from Positive offer us great flexibility, comprising of a confidential invoice discounting facility and an over-advance, and will allow us to support both our customers’ growth aspirations and our own.”

David Smith, managing director at Positive said: “Nicki, and the rest of the team at ECL have an excellent service offering and very exciting plans for the business.

“We are delighted to be involved with ECL and look forward to working with the management team and assisting them to achieve their ambitions.”

David Gledhill from Bermans Solicitors advised Positive and Craig Scott from Hill Dickinson worked on behalf of ECL.

Steve Jarman of Taylors Solicitors introduced ECL to Positive earlier in the year.