Digital printing firm expands to ‘next level’ with new funding package

An £8m-turnover digital label printing and brand management business is set to expand after securing a “significant” funding package by HSBC Corporate Banking.

Based in Hull, Springfield Solutions was originally set up and established by Albert Dass over 40 years ago with HSBC as its banker.

HSBC has now released new funding which will allow Springfield to roll out further growth plans.

As part of the business’ growth strategy, Albert Dass will focus on Special Projects with his son Matt Dass taking on the role of managing director of commercial and innovation.

Matt Dass will work alongside Steve Forster, who will focus on his position as finance and business strategy director and Dennis Ebeltoft, who will continue as operational and systems director.

DSW Corporate Finance, Rollits Solicitors, Holdstock Accountants and the Tax Advisory Partnership acted for the shareholders and advised the business whilst Wilkin Chapman Solicitors’ Beverley office advised HSBC.

The team at HSBC was led by Dan Wilson and Julie Bowler.

Matt Dass, Managing Director of Springfield said: “all parties have worked closely and collaboratively resulting in the management team having the financial resources to take the business to the next stage of its development.”

Dan Wilson, Relationship Director HSBC commented: “it has been a pleasure to support such a longstanding client with these new facilities which will provide them with the financial resources to continue to grow and develop the business under the leadership of the next generation of the Dass family.”

Richard Townsend, Director at DSW Corporate Finance said: “Working with the owners and management of Springfield has demonstrated the current vibrant business environment in Hull and Yorkshire in general. Albert and the team over many years have established and built up a great business based on innovation and quality which can now be transitioned onto the next generation that is ideally placed to take Springfield forward to the next level.”