INDEPENDENT SME funder, Bibby Financial Services (BFS), has provided a £3.5m funding facility to Capital Cooling Refrigeration Limited, a refrigeration specialist with 20 years’ experience in the industry.
The West Lothian business based in Broxburn, designs, manufactures, distributes and maintains a range of commercial refrigeration products and bespoke systems to a variety of well-known UK retailers across the leisure, retail and hospitality sectors.
The £3.5m funding package provided by BFS incorporates trade finance, which will enable the business to extend its footprint in existing markets as well as developing products for new sectors.
Steve Steadman, Capital Cooling Refrigeration Ltd chief executive officer, said: “This new facility will play an integral part in our plans for expansion as it will free up working capital to invest in our people, products and processes.
“We have been impressed by how quickly BFS were able to structure a funding package that suited our needs. We’re thrilled to partner with the team and look forward to driving the business forward.”
David McIntyre, Bibby Financial Services corporate manager, said: “With a customer base that includes some of the UK’s best-known brands, Capital Cooling is a well-respected specialist in the refrigeration industry.
“We are very happy we were able to deliver a unique solution that will provide them with the required capital to expand their offering.
“We are delighted to work with Steve and the team as they pursue their exciting growth ambitions.”