News: Rotherham export experts set for expansion with £20m Santander support
Advanced Alloy Services, a Rotherham-based supplier of high purity metals, revert and toll-process for the manufacture of high temperature superalloys, has received a £20m funding package from Santander Corporate and Commercial Banking.
The aim is to grow its business both domestically and internationally, as it pursues its strategy for growth in the UK, US and Asia.
Founded in 1993 the company underwent an MBO in 2019 and now operates from a purpose built 44,000 sq ft facility in Dinnington on the former colliery site supplying high purity pure metals and fully processed and certified superalloy revert to customers all over the world.
The new financing agreement will also allow the business to expand its partnerships with UK universities to research and develop new critical metals recovery processes with material from secondary sources. Financial support from Santander will facilitate these crucial innovation projects and help the UK develop security of supply of critical minerals and metals, essential for key infrastructure projects. Metal recovery projects will also help towards Net Zero targets, by reducing reliance of metals from primary sources and corresponding high carbon emissions from mining and refining processes.
Earlier this year, Advanced Alloy Services was recognised for its outstanding achievements in International Trade with a King’s Award for Enterprise. A presentation recently took place in Dinnington with His Majesty’s Lord Lieutenant of South Yorkshire, Dame Hilary Chapman.
The firm has a turnover of £56.7m and employs over 40 people.
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Stephen Hall, Managing Director, Advanced Alloy Services, said: "With our new financing arrangement, Santander has differentiated themselves from other banks. Crucially, they have demonstrated support for the UK metals industry and with it the UK Critical Mineral Strategy, helping security of supply essential for key infrastructure. The onboarding team have been exceptional and facilitated a smooth transition in record time."
Liz Pickering, Relationship Director, Santander Corporate and Commercial, added: “We are delighted to have supported Advanced Alloy Services and delivered a bespoke refinance package which will support the company’s exciting opportunity for UK and international growth. Advanced Alloy Services Ltd is a well-established local business growing in its sector. The remit at the outset from the management team was to provide a flexible funding solution to enable the metal supplier to maximise international growth, which we achieved by working alongside UKEF. This has been collaborative approach, and we look forward to continue working with the Advanced Alloy team.”
The package includes a £10m General Export Finance facility (GEF), £10m Invoice Finance, FX facilities, and transactional banking, which offers the metals business flexibility, tailored to its needs.
Advanced Alloy Services website
Santandar website
Images: Lord Lieutenant of South Yorkshire / x
The aim is to grow its business both domestically and internationally, as it pursues its strategy for growth in the UK, US and Asia.
Founded in 1993 the company underwent an MBO in 2019 and now operates from a purpose built 44,000 sq ft facility in Dinnington on the former colliery site supplying high purity pure metals and fully processed and certified superalloy revert to customers all over the world.
The new financing agreement will also allow the business to expand its partnerships with UK universities to research and develop new critical metals recovery processes with material from secondary sources. Financial support from Santander will facilitate these crucial innovation projects and help the UK develop security of supply of critical minerals and metals, essential for key infrastructure projects. Metal recovery projects will also help towards Net Zero targets, by reducing reliance of metals from primary sources and corresponding high carbon emissions from mining and refining processes.
Earlier this year, Advanced Alloy Services was recognised for its outstanding achievements in International Trade with a King’s Award for Enterprise. A presentation recently took place in Dinnington with His Majesty’s Lord Lieutenant of South Yorkshire, Dame Hilary Chapman.
The firm has a turnover of £56.7m and employs over 40 people.
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Stephen Hall, Managing Director, Advanced Alloy Services, said: "With our new financing arrangement, Santander has differentiated themselves from other banks. Crucially, they have demonstrated support for the UK metals industry and with it the UK Critical Mineral Strategy, helping security of supply essential for key infrastructure. The onboarding team have been exceptional and facilitated a smooth transition in record time."
Liz Pickering, Relationship Director, Santander Corporate and Commercial, added: “We are delighted to have supported Advanced Alloy Services and delivered a bespoke refinance package which will support the company’s exciting opportunity for UK and international growth. Advanced Alloy Services Ltd is a well-established local business growing in its sector. The remit at the outset from the management team was to provide a flexible funding solution to enable the metal supplier to maximise international growth, which we achieved by working alongside UKEF. This has been collaborative approach, and we look forward to continue working with the Advanced Alloy team.”
The package includes a £10m General Export Finance facility (GEF), £10m Invoice Finance, FX facilities, and transactional banking, which offers the metals business flexibility, tailored to its needs.
Advanced Alloy Services website
Santandar website
Images: Lord Lieutenant of South Yorkshire / x
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