Burnley-based window manufacturing firm VEKA plc has secured a new finance deal with NatWest and RBSIF that will fuel its growth plans.
The funding package, which is a combination of invoice finance, term loans and overdraft facilities, will provide flexible capital to boost growth at the industry-leading PVC-U systems supplier.
Established in 1982, VEKA plc has seen strong growth, both organic and via acquisitions. Today it has a turnover of £70m annually and a staff base of 370.
Dave Jones, managing director, VEKA plc, said: “Staying true to our mission to invest in our people, products and services, to deliver the best customer experience in the industry, we are committed to investing in our business and identifying opportunities, both internal and external which will strengthen our commercial offering.
“Working with NatWest and RBSIF, we now have the finance partner we need to locate and secure these opportunities and drive forward growth. The team seriously impressed us with their knowledge and they really went out of their way to understand how our business works and our needs – so they were an obvious choice of finance partner.”
Colin Andreassen, RBSIF business development manager, said: “Through engaging with VEKA plc we are able to provide a mixture of flexible working capital through invoice finance and additional structured funding through the overdraft and term loan. VEKA plc has a strong base for growth, creating unique opportunities in the industry and potential for significant job creation.”
Martyn Lylyk, NatWest relationship manager, said: “We first met VEKA plc more than five years ago, and through regular conversations, we really developed an understanding of the culture of the business. When they were ready we were able to facilitate the most appropriate financial systems to best meet their strategic objectives. We look forward to working with VEKA plc for the foreseeable future and supporting their growth aspirations.”
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