Company name:
Astracast
Location:
Bradford, England
Sector:
Manufacturing
Size:
Undisclosed
Type:
Asset-based
lending facility
Multi million funding to boost innovation at Astracast
Astracast, a specialist
manufacturer, has secured
a multi-million pound
asset-based lending facility
from Secure Trust Bank
Commercial Finance.
The company
Founded in 1984, Astracast is a market leader
in the manufacture of kitchen sinks, taps and
acrylic baths, working across all three materials of
granite, stainless steel and ceramic. The Bradfordbased business has grown to become one of the
UK’s largest sink manufacturers by market share,
boasting a staff count in excess of 200 and a
turnover of around £40m.
Over the years, Astracast has focused on the
development of innovative products, creating the
world’s first coloured composite sink products,
in addition to the creation of its ROK and ROKTEX brands. The firm sells its products to both
national distributors and international DIY retailers,
supplying to over 40 countries worldwide.
For more information, please visit: www.securetrustbank.com/commercial-finance
Multi million funding to boost innovation at Astracast
The solution
The funding facility, provided by Secure Trust Bank
Commercial Finance, will be used to fund product
development, including a new range of sink and
bath products. Following the win of a number of
high profile clients, the funding will aid Astracast’s
push to expand further into its existing markets.
The facility will also support the long term
strategy of Astracast’s parent company, the private
investment firm HLD Group. Having completed the
acquisition of Astracast in 2012, HLD has looked
to create a market leader in specialist household
manufacturing, merging the business with fellow
portfolio company Reva Industries in 2013.
What they said
“ The team at Secure Trust Bank demonstrated an
excellent understanding of the business plan and
the opinions of the management team. They have a
unique proposition in terms of their approach, and
as such I would strongly recommend them to other
SMEs searching for a financial partner to match their
aspirations.”
Demis Ohandjanian,
CEO of the HLD Group, the parent
company of Astracast
“ Astracast has a long and illustrious past, and has
been responsible for many of the major changes in
the bathroom market over the past three decades.
This has enabled the business to attract some of
the largest retail and distributor clients and expand
both domestically and internationally, opening a
warehousing facility in the US.
We are extremely pleased to provide Astracast with
a full asset-based lending package, securing the
company the new stock, plant and machinery it
needs to ensure it continues with its expansion and
product innovation plans. It represents an excellent
transaction for us, and we look forward to working
alongside Demis and the team in the coming months.”
David Parsons,
regional director, South and Midlands
at Secure Trust Bank Commercial Finance
Our Proposition
• Full suite of ABL products: our combined asset
finance and invoice discounting facility enabled us
to structure a comprehensive funding package
• Access to decision makers: we delivered on
our terms and completed the transaction in less than 7 days from initial enquiry
• Flexibility: demonstrated through our debt structure and turnaround times
• Insight: our experience enabled us to truly understand the customer’s business and
their future plans which ensured that our
facility was tailored to their requirements
• Service: a reputation for working alongside external investors
For more information, please visit: www.securetrustbank.com/commercial-finance