Seven-figure funding deal to support manufacturer with international growth
A seven-figure funding package is set to expand the product range of a Wolverhampton manufacturer.
Rothley UK has received the funding from HSBC and will use it to spearhead a product development programme.
Specialising in decorative and building hardware products, Rothley is looking to shift away from processes or materials harmful to the environment or human health, with a particular focus on eliminating hexavalent chromium (Cr6) from its product range.
While the company has seen growth in key markets such as America, France, and Poland, its expanded operations aim to facilitate further growth in Germany and the Middle East.
With HSBC UK’s support, Rothley anticipates substantial increases in turnover and profitability over the next three years, with a projected doubling of turnover during this period.
Stuart Hobbs, managing director at Rothley Limited, said: “Over the last four years, HSBC UK has supported the business by taking time to discuss and understand our proposition and plans. We’ve been supported with well-structured and tailored financial solutions, but more than this, our HSBC partners have gone beyond what I could have expected and assisted us with network expansion and insightful input which has directly led to business growth. Together, we have created more jobs, reduced environmental harm, created export revenue for the UK and allowed the business to relocate and invest in a solid future.
Martyn Drayton, relationship manager at HSBC UK, said: “Rothley Limited has established itself as one of the UK’s leading suppliers of hardware products. In the current climate, more people are turning to DIY to keep their homes up to date with the latest trends and we’re delighted to be supporting Rothley Limited in meeting this demand and, in turn, grow internationally.”