£55million working capital facility awarded to Bristol firm
Bristol, 14 March 2012: GE Capital today announced that it will provide £55million towards an £81m refinancing package for Bristol-headquartered WT Burden Limited.
Founded in 1929 by Wilfred Thomas Burden, whose descendants are still involved with the running of the firm, WT Burden is the UK's largest supplier of building materials into the infrastructure, environmental and industrial sectors. The company has a turnover of £350million and employs more than 1,100 people at 50 distribution depots across the UK, and also in Ireland, the Middle East, and Australia.
During the past twelve months, the company has achieved a 15 per cent growth in sales and has doubled turnover in the past few years. It has over 6,000 customers ranging from small enterprises to the large blue chip companies.
Drew Johnson, Regional Director, Midlands, GE Capital UK, commented: "WT Burden prove that it's possible to succeed and grow, even in a challenging economic environment. With its leading market position and strong track record, we are very happy to be able to support the company in its plans for further expansion".
Jeremy Burden, Chief Executive of WT Burden, commented: "The challenge we faced was to find a financing partner who could understand our business model and provide us with sufficient working capital to maintain levels of growth. After searching far and wide, in GE Capital we found a solution that will give us the greater comfort and increased headroom needed to achieve our targets".
Zoe Chambers Michael Goodbody
[email protected]
GE Capital EMEA
[email protected]
+44-207-302-6269
+44-7899-808-239
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