Refinance deal helps North East manufacturer expand its range
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Ebac manufactures water coolers and dehumidifiers. It employs 200 staff on a single site in County Durham.
What did they want to achieve?
The company wanted to start producing washing machines and develop a new range of chest freezers.
How we helped
Our asset based lending team provided a £6.5 million working capital facility. The banking team arranged a £1 million revolving credit facility. Lombard supported the acquistion of new machinery with a £3 million line of asset finance.
Royal Bank of Scotland has supported our plans from the inception of the project, providing us with a solution which is adaptable to the changing needs of a growing business.
Pamela Petty, Group Managing Director of Ebac
We are delighted to support a UK manufacturer that is doing something different and seeking to reinvigorate the production of white goods in the UK. By working with my colleagues in the banking and Lombard teams, we have structured a package that offers a flexible solution to suit Ebac’s growth plans.
Paul Goodchild, Business Development Director, asset based lending team
The refinance package supported the company's growth plans.
Asset finance enabled Ebac to acquire new machinery to manufacturer new products.
Ebac is the only UK-based company to make washing machines in the UK in 10 years.