Abracs smooths transition to international growth with £2m finance

YORK-BASED abrasives firm Abracs has secured a £2m refinancing package with NatWest as it commits to future growth plans.

Abracs moved to NatWest to help further increase their export credentials

Robert Jeffery, managing director at Abracs, said: “As a business we continue to expand operations and grow our customer base in both the UK and International markets.

“The funding package from NatWest offers us the flexibility we need to ensure our ongoing commitment to growth, product development and market leading customer service. We look forward to working with NatWest in the years ahead.”

The firm supplies industrial abrasives for the engineering, agriculture and automotive industries, employing 50 people with a turnover of £5.2m in 2014.

The funding deal was supported by James Burgess, director of NatWest Structured Finance and relationship director David Smithies.

Mr Burgess said: “We are delighted to commence a new business relationship with Abracs, which has an excellent reputation across the sectors it operates in. The management team have a clear vision for the company’s future and we look forward to supporting their plans.”