GE Capital, one of Europe's leading providers of asset based lending, today announced that it has provided Speciality Coatings (Darwen) Limited (SCDL) with financing facilities of £7M, to support the company's growth and expansion into new markets.
SCDL, whose main UK base is in Lancashire, is the UK's leading independent manufacturer of plastisol and vinyl base for the wall coatings industry. The company has a history in wall coverings and PVC coating that goes back more than 30 years, and in recent years has extended its products to other areas such as the floor covering and digital print industries.
Paul Phillips, Managing Director, Chairman Speciality Coatings (Darwen) Limited, said: "Our financing deal with our current lender was coming to an end and we wanted more flexibility around funding our largest debtor. GE Capital was able to accommodate this and provide us with additional capital for further expansion."
Richard Spielbichler, Regional Director at GE Capital said: "Speciality Coatings is an efficient business that needed additional working capital as it continues to seek further growth. GE Capital has given SCDL the flexibility and confidence that only a long term, strategic funding partner can provide."
GE Capital is one of the world's largest providers of working capital and accounts receivable financing. In Europe alone, GE Capital has provided more than $500 billion in accounts receivable financing in the form of factoring over the past 10 years and in the UK enables over 90,000 customers to successfully run and manage their business every day.
Angela Goulding
GE Capital
[email protected]
0870-458-8421
Michael Goodbody
GE Capital EMEA
[email protected]
+44-207-302-6269
+44-7899-808-239