Uniroyal Global Limited (UGL), the Lancashire-based manufacturer and supplier of coated fabrics to the global automotive industry, has completed a significant refinancing deal with Independent Growth Finance (IGF).
The new financing arrangement includes an £8 million asset-based lending facility, incorporating Invoice Discounting, Stock and Plant and Machinery funding lines and improves the business’ access to liquidity, providing a firm financial foundation to propel UGL’s growth and meet the surging demand in the market.
Based in Earby, Lancashire and employing circa 225 staff, UGL is a leading manufacturer of cast, extruded and vinyl coated fabrics with a strong focus on surface design, predominantly serving the automotive market. The company has a long heritage dating back over 100 years, with today’s business deriving from two independent family textile businesses.
Howard Curd, CEO of Uniroyal Global Limited, said “At a time of continued economic uncertainty and a challenging period for the global automotive industry, this new facility demonstrates the market’s confidence in UGL and our clear ambition to serve both domestic and export markets.”
Ben Smith, Debt Advisory Director at Interpath Advisory, commented “We are pleased to have advised UGL on this new financing package which will unlock significant additional funding capacity across the business, enabling it to pursue growth in its important export markets. The facility provides the capacity for UGL to deliver on its strategy to be a leading supplier and strategic partner to its customers. A great collective effort from a variety of stakeholders was needed to get this deal done. Particular thanks to Richard Spielbichler and the team at IGF who worked with us to provide certainty of execution and deliver a market leading deal in a highly competitive process.”
Richard Spielbichler, director at Independent Growth Finance (IGF), commented “Working closely with Interpath Advisory, we are thrilled to have partnered with Howard and the team at UGL for their successful refinancing endeavor. We take pride in our core values of certainty, speed, and flexibility, and this collaboration with Uniroyal Global Limited showcases our commitment to empowering businesses with tailored financial solutions. The collaboration of combined expertise enabled us to deliver an ABL solution that will finance UGL’s future growth plans, and we look forward to supporting this journey.”
