Investing in UK manufacturing with the help of asset based lending
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About Gardner Aerospace
Gardner Aerospace is one of the industry's largest and most diverse manufacturers, providing components for the Airbus A350 XWB, kits, sub assemblies and major assemblies. The company employs a total of 1,400 people, 650 of whom are in the UK.
What did they want to achieve?
Gardner wanted to continue investing in its UK manufacturing plants in Derby, Basildon, Broughton, Hull and Pershore. It also needed support to implement new contracts.
How we helped
Our asset based lending team agreed a £35 million facility. This was secured against the company's assets, including receivables, inventory, plant, machinery and property. Gardner used this working capital to support its growth and invest in R&D.
The aerospace sector is very competitive so it's important that our bank facilities can help us to keep pace with our competitors and support our growth. ABL is a smart way to invest in our growth and meet the demands for new aircraft.
Tony Millington, Chief Financial Officer of Garnder Aerospace
Gardner Aerospace operates in a bespoke sector and is a key international player. The ABL facility frees up working capital which will support investment in the UK.”
Graham Johnson, ABL Relationship Manager