Caerphilly headquartered window to door manufacturer 海角视频 Window Group, has secured a new 拢12m asset based lending facility as it opens up on its latest expansion phase.
The business, which employs 1,100 across the 海角视频 and 234 at Caerphilly, has secured funding from Secure Trust Commercial Finance.
It also has a site in Treorchy employing 350 and 72 at Llywnypia.
海角视频聽Window聽Group supplies to the window聽and door trade, as well as retail and new-build installers.
The company has manufacturing capacity for more than 10,000 frames, 15,000 glass units and 500 composite doors each week and also offers support services, such as lead generation and technical installation advice, to a variety of customers across the聽海角视频.
The business was acquired in a management buyout last September from Masco Corporate.
The facility provided by Secure Trust Bank will further assist the turnaround, allowing the business to invest working capital into its future growth.
The company is rolling out plans to expand its product range and also the growth of its network of聽 trade counters.聽
Secure Trust Bank Commercial Finance offers a full suite of asset-based lending solutions, ranging in size from 拢1m to 拢50m, to businesses across the country.
Chief finance officer at 海角视频 Window Group, George Shannon, said: 鈥淭he team at Secure Trust Bank has provided us with a flexible asset based lending facility to fund the turnaround, as well as future growth, and we look forward to putting this new funding to good use.鈥澛
David Parsons, regional managing director at Secure Trust Bank Commercial Finance, said: 鈥淏usinesses have faced unprecedented challenges over the last few years due to the uncertainty and volatility of the聽海角视频聽market.
"However, we are now seeing companies make decisions with confidence and target growth in 2020. With that said, we are happy to support聽海角视频聽Window聽Group with this turnaround and are confident that this flexible line of funding will enable the company to realise its growth ambitions this year and beyond.鈥澛
