Bibby Financial Services agreed a £1.1m funding package with Sampling International, a manufacturer of sample books for upholstery.
The funding has allowed the West Yorkshire- based manufacturer to undertake a management buy-in, and ongoing support in the form of working capital.
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Sampling International’s 130-strong staff is based at its Batley manufacturing plant, and produce over 50,000 sample books and 300,000 carpet sample cards per year.
Stephen Hubbard, managing director, Sampling International said: “We needed an injection of capital to help fund the retirement of one of our director/shareholders.
“It was at this point that we turned to Bibby Financial Services, who we had previously worked with, to provide the funding we needed.”
The company expects that the funding will enable them to achieve their 10% growth target for 2017 and a possible expansion into other markets.
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By GlobalDataDavid McIntyre, corporate manager, Bibby Financial Services, said: “Sampling International is a great example of the products and services that SME businesses create that often go under the radar.
“We were able to provide a flexible multi product funding facility that will support the growth of the company.”
