Preston-based digital agency Soap Media Ltd has agreed a £375k working capital facility with Barclays to purchase new premises and support the continued rapid growth of the business.
Established in 2005, Soap Media provide web technologies and digital marketing services for clients including Booths Supermarkets, Merlin Entertainment, MoneySupermarket.com and American Golf.
The new premises at Glover’s Court in Preston were once home to the Lambert Brothers’ printing press business, and were in need of renovation. The property was purchased with the support of Barclays, and has since been revamped to a very high specification with a grant from the Heritage Lottery Fund.
Markerle Davis, managing director and co-founder at Soap Media, said: “Soap Media has grown significantly over the last few years and from this we have developed a strong relationship with Barclays as we need a banking partner for the long-term, supportive of our aims and ambitions. The team at Barclays shares our enthusiasm, understands our business and through the purchase of the new site has enabled us to scale up and attract high quality members of staff.”
The facility was arranged by Barclays and led by Stephen Tams, Barclays Business Manager. He said: "Soap Media is a fascinating company to work with and I have thoroughly enjoyed building a strong partnership with the management team over the last 12 months. The energy and passion of all the staff has enabled them to achieve phenomenal growth in a short space of time, securing some high profile clients.
“This is a well-run, growing North West business and is now ideally positioned to continue on its growth track over the coming years. The close relationship helps us to understand the key drivers for the business which, in turn, has enabled us to deliver a funding solution that fully satisfies Soap Media’s ongoing requirements.”