Tuesday, May 7, 2019

News: Funding boost for Rotherham's Specialised Laser Products

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Rotherham-based Specialised Laser Products Ltd (SLP) has secured a seven-figure working capital facility to support future growth.

The company provides laser cutting services for a wide range of industries and has more than 500 clients nationwide. Working across a wide range of sectors, the firm uses ultra-precise methods to laser cut steel and aluminium sheet metal with the finest degree of accuracy.

Owner and founder Duncan Proctor, an expert in the metal cutting services sector, established SLP in 1995 to initially support the machine knife industry. The firm now employs 30 people at its Canklow Road premises on the edge of the town centre and is winning new contracts in the rail industry.

The working capital facility was structured by Adam Myers at Ultimate Finance, who worked with Adam Simpson at the Liquidity Club to tailor a finance package to support SLP's growth strategy to move the business forward to expand with new projects in the rail sector and increase profits. The working capital line includes a revolving facility that provides flexibility for SLP to access funding when it is needed to assist new contract wins and growth opportunities.

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​Duncan Proctor, managing director at SLP (pictured, left), said: "The new funding package puts SLP in a strong position for continued growth and will support new contract wins and our ability to drive forward the business. We have recently expanded our sales team which further strengthens our ability and desire to increase our customer base across the UK. We want to be the best at what we do – which is why we've invested in our people and use the latest technology, enabling us to deliver projects on time and to specification.

"I have been impressed by the support provided by Adam Simpson at Liquidity Club. He has been first class. The whole process has been much easier because Adam reviewed the funding options and introduced us to the right funding partner. As a result, we have worked with Adam Myers at Ultimate Finance and received the funding boost we needed to support our growth."

Adam Simpson, commercial director Liquidity Club (pictured, right), said: "SLP is a great family run business and Duncan is hugely knowledgeable in his field of work. Thanks to the working capital facility provided, SLP can grow the business with confidence they have the right financial backing. Duncan is the driving force at SLP with over 25 years in the industry and his hard work and knowledge is really paying off. The expansion of the sales team and new business wins highlights SLP's commitment to take the business to the next level and they have identified opportunities to expand into the rail sector."

Adam Myers, regional director at Ultimate Finance (pictured, centre), added: "Supporting a successful, expanding and ambitious family business is exactly the sort of good funding that Ultimate Finance exists to deliver.

"SLP is winning exciting new contracts in the rail industry and the funding that we've provided means they can maximise those opportunities. ​We were able to offer Duncan and his team an increased finance package that provides extra security to continue pursuing their growth plans with confidence. Working with Duncan and Adam at Liquidity Club, has been a pleasure."

SLP website
Liquidity Club website
Ultimate Finance website

Images: Liquidity Club

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