GLAGSOW, 24 February 2012: GE Capital today announced that it will provide a new £750,000 working capital facility to Glasgow-based Willis Safety.
Willis Safety is Scotland's leading independent supplier of personal safety equipment and work-wear (PPE), and has large corporate customers including SSE. Headquartered in Hillington and employing 21 people, the owner-managed company has been in operation for more than 135 years, the last 35 of which have been in the PPE industry. In recent years the company has experienced rapid expansion and this year has plans for double digit growth and an increase in headcount in its sales team.
The working capital facility represents the first deal completed under the tenure of Alan Anderson, recently appointed as Regional Director -- Scotland for GE Capital.
Alan Anderson commented: "Willis Safety is a shining example of a business that has achieved great things in tougher economic times by being a leader in its niche, and it has the ambition to go even further. Having taken the time to get to know the business and the management team, we at GE Capital were delighted to be able to support the financing needs of the business and look forward to developing a long-term relationship with them as they build on the opportunities ahead.
"As a well-capitalised finance provider, we are seeing increased demand for asset based finance from Scottish businesses of all sizes and from all sectors, and we expect to see many more deals coming through in the next few months".
Stuart Boyd, joint owner of Willis Safety said: "The future is looking extremely positive for our business, especially now we have been able to push through some of the financing constraints we had previously been experiencing. The new facility from GE Capital has provided us with a competitive and significantly larger funding line, allowing us to free up the cash needed to expand sales and implement our plans to grow in the coming year".
Michael Goodbody
GE Capital EMEA
[email protected]
+44-207-302-6269
+44-7899-808-239