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Aldermore seals funding deal for West Yorkshire manufacturer

POSTED: 30th August 2016
IN: Newsroom
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V-Seal Ltd, a leading manufacturer of specialist seals and gaskets based in Halifax, West Yorkshire, has agreed a combined £250,000 invoice finance facility with Aldermore, the specialist lender and savings bank.

V-Seal is one of the leading suppliers of all sizes of seals and gaskets to petrochemical and oil refineries across the world. The company has built its reputation on customer service, particularly its short lead-times as it manufactures and despatches the majority of its gaskets on the same day, a speed to market that sets it apart in an industry where there is extreme pressure to keep production lines open. V-Seal was established in 1997 and currently employs 21 members of staff.

The extended funding, which augments earlier funds provided by Aldermore, will allow V-Seal to move premises and install a new laser cutting machine. This will enable the company to serve more customers globally and help it to cope with increasing demand for its products.

Mark Birks, Managing Director at V-Seal, said:

“We’re keen to further develop and grow V-Seal and this funding is a crucial step in the journey. We will be upscaling our operations so that we can manufacture more products and serve more customers, with a particular focus on growing our export business.

“The team at Aldermore has supported us for several years and has a good understanding of our business and requirements. We chose Aldermore as they were able to provide us with funding tailored to our needs in a timely fashion, and the facility they have provided has been instrumental in enabling us to grow.”

St John Emms, Relationship Manager at Aldermore Invoice Finance, said:

“V-Seal is a well-established business with experienced staff, and has enjoyed strong growth in recent years. We’re pleased to have been able to assist them by providing the additional funding they need to further grow their business, and we look forward to seeing how the company develops in the future.”

*Ends*

Ian Burge, PR Manager

Phone:            020 3553 4292
Mobile:            07767 794956
Email:              ian.burge@aldermore.co.uk

Constanze Ullmann, Cicero Group

Phone:            020 7297 5978
Mobile:            07741 313 878
Email:             Constanze.ullmann@cicero-group.com

Aldermore

Aldermore Group PLC is a specialist lender and savings bank offering straightforward products to Small and Medium-sized Enterprises (SMEs), homeowners, landlords and individuals, who we believe are often poorly- or under-served by the wider market.

Aldermore has no branch network but serves customers and intermediary partners online, by phone and face to face through its network of regional offices located around the UK.

Building on its core values of being reliable, expert, dynamic and straightforward, Aldermore aims to deliver banking as it should be.

Established in 2009, Aldermore has grown significantly. At the end of March 2016, lending to customers stood at £6.5 billion and customer deposits totalled £6.2 billion.

For more information, please visit www.aldermore.co.uk.

Aldermore Bank PLC is an operating entity of Aldermore Group PLC. In March 2015, Aldermore Group PLC’s shares (ALD.L) listed on the Main Market of the London Stock Exchange.

Aldermore Bank PLC is regulated by the Prudential Regulation Authority and the Financial Conduct Authority and is registered under the Financial Services Compensation Scheme.

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  • Invoice Finance
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