IT Hardware & Software on international sales drive

A MANCHESTER IT hardware firm has secured a £2.5m invoice finance package with HSBC to fund international growth.

IT Hardware & Software, which switched from RBS, sources and sells IT hardware such as servers, hard drives, keyboards and monitors.

The business was formed in 2009 by David Warner and Alan Glazer and already employs 20 people and has a projected turnover for 2013 of £21m.

Mr Warner, joint managing director, said: “We are confident that HSBC is the ideal banking partner for ITHS and our new banking facilities will propel the company towards fulfilling its growth plans.

“ITHS currently trades with distributors and buyers all over the world, and so HSBC’s ability to support us with trading in foreign currency, in addition to an invoice financial line, is ideal for our business operations.”

Jason Trigg, HSBC’s area commercial director for Manchester, said “ITHS is a strong example of a local business maximising growth opportunities and building on international trade connections despite the challenges businesses are currently facing in this economic climate. The invoice finance facilities with which HSBC will support the business will provide improved cashflow management and offer important protection for IHTS against the risk of non-payment. We are looking forward to supporting ITHS as it continues to grow and expand.”