Manufacturer on track for rail sector growth with seven-figure funding deal
A Rotherham-based laser cutting company is gearing up for expansion in the rail sector after securing a seven-figure working capital facility.
Specialised Laser Products (SLP) is run by owner and founder Duncan Proctor, an expert in the metal cutting services sector.
SLP was formed in 1995 to initially support the machine knife industry in the South Yorkshire area with laser cutting services and has since grown to employ 30 people from a 20,000 sq ft unit at Ford Park.
It relocated to this site in 2000 and expanded into more traditional laser markets, of mild and stainless steels, supplying a multitude of industries.
Today, the laser cutting company is a multi-million-pound business delivering laser cut metal products across the UK.
The working capital facility was structured by Adam Myers at Ultimate Finance, who worked with Adam Simpson at the Liquidity Club to tailor a finance package to support SLP’s growth strategy to move the business forward to expand with new projects in the rail sector and increase profits.
The working capital line includes a revolving facility that provides flexibility for SLP to access funding when it is needed to assist new contract wins and growth opportunities.
Proctor said: “The new funding package puts SLP in a strong position for continued growth and will support new contract wins and our ability to drive forward the business. We have recently expanded our sales team which further strengthens our ability and desire to increase our customer base across the UK. We want to be the best at what we do – which is why we’ve invested in our people and use the latest technology, enabling us to deliver projects on time and to specification.”
Simpson, commercial director Liquidity Club, said: “SLP is a great family run business and Duncan is hugely knowledgeable in his field of work. Thanks to the working capital facility provided, SLP can grow the business with confidence they have the right financial backing. Duncan is the driving force at SLP with over 25 years in the industry and his hard work and knowledge is really paying off. The expansion of the sales team and new business wins highlights SLP’s commitment to take the business to the next level and they have identified opportunities to expand into the rail sector.”
Myers, regional director at Ultimate Finance, added: “Supporting a successful, expanding and ambitious family business is exactly the sort of good funding that Ultimate Finance exists to deliver. SLP is winning exciting new contracts in the rail industry and the funding that we’ve provided means they can maximise those opportunities. We were able to offer Duncan and his team an increased finance package that provides extra security to continue pursuing their growth plans with confidence. Working with Duncan and Adam at Liquidity Club, has been a pleasure.”
