Industry: Manufacturer and supplier of heating and cooling systems
Product: Confidential invoice discounting
Facility size: £2.5 million
Trading since 1966, this well-established Hampshire business specialises in the design, manufacture, and supply of heating and cooling equipment worldwide. They have an impressive product portfolio, comprising of, chillers, fan convectors, and radiant panels. They supply into a range of different environments, such as, commercial, medical, and industrial environments.
Despite facing challenges during the pandemic, the business has managed to recover well and returned to profitability. However, they continued to see difficulties in fulfilling orders and provide funding for material purchases, owing to lower levels of available working capital.
Close Brothers Invoice Finance is delighted to offer a £2.5 million confidential invoice discounting facility to the company. This funding solution has enabled the business to gain access to the value of unpaid customer invoices as soon as they are raised, which helps to unlock cash required quickly and efficiently. Additionally, they retained their credit control in-house, so the facility remains completely confidential, and customers are unaware of any changes. As a result, this has provided the company with sufficient working capital to invest in business growth and achieve their financial goals.
