London, 03 May, 2012: GE Capital today announces that it has provided a £3.75m asset based lending financing facility to Ceramic Prints Ltd (CP) to provide stable funding and support for the growth and development of the business.
Established in 1983 and based in Brighouse, West Yorkshire, CP is one of the UK's biggest importers, manufacturers and distributors of tile, stone and glass decorative products. As well as producing decorative tiles and borders, CP supplies major DIY retailers and independent tile retailers within the UK via its 150,000 square foot distribution centre in West Yorkshire.
At the end of 2011, CP was acquired by British Ceramic Tile (BCT) in a move to create one of the largest tile companies in the UK. The integration of the two companies has created a stronger business with an enhanced capability to serve customers both in the UK and abroad. Equipped with the latest HD ink-jet tile manufacturing technology, the business is at the forefront of product design within the industry.
Justin Edwards, Regional Director -- South West & Wales, GE Capital UK, commented: "We are delighted to be able to support one of the largest tile companies in the UK in the next stage of its development, especially at a time when the challenging economic environment is having a strong impact on businesses linked to the building sector. CP is a market leader with a strong track record and it gives us great satisfaction to be able to play a key role in moving the business forward."
James Clarkson, Group Finance Director, CP Group, commented: "To be able to invest in cutting-edge technology in order to continue our trajectory as a market leader, we wanted a partner that understood the nature of our business. As GE Capital already provide equivalent facilities to BCT, CP's parent company, it was a logical step for us to go with GE Capital, a market leader in its own right."
Zoe Chambers
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