Returnable transit packaging provider secures £5.5m funding package
BGF-backed returnable transit packaging provider PPS Equipment Holdings has secured a funding deal worth more than £5.5m to support the future growth of the business.
Springboard Corporate Finance completed the debt refinancing of the Staffordshire-based business in a deal funded by Shawbrook Bank.
PPS employs more than 150 people across three sites and has successfully positioned itself as a ‘one stop shop’ for reusable packaging and storage solutions across multiple industry segments including food, automotive and manufacturing sectors.
Springboard said that with increasingly stringent hygiene regulations around food manufacturing and the time and space constraints businesses are facing, PPS is poised to benefit from continuing growth with the funding package.
The Springboard team was led by partner, David Neate and assistant director, Jonathan Wright.
Neate said: “We are delighted to have delivered this funding solution for PPS. The returnable transit equipment market continues to see strong growth with its environmentally friendly solutions also providing identifiable efficiencies for users.
“The quest for industries to find effective reusable packaging will continue to drive growth in the sector. PPS, with the benefit of this bespoke funding package is well placed to capitalise on the opportunity.”