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Wyelands Bank completes ABL deal for stainless steel supplier

Martin Greenland | 07:29 Wednesday 12th December 2018

Wyelands Bank has completed a seven-figure, asset-based lending deal for AD Bird Stainless Limited.

The funding will help support the stainless steel supplier’s growth plans by freeing up working capital and enabling AD Bird Stainless Limited to take on new orders and invest for the future.

The business is forecast to achieve more than £7m in this financial year, which demonstrates substantial growth over the previous year.

“At Wyelands Bank, we were set up to help businesses just like AD Bird Stainless Limited to grow and create jobs,” said Ian Flaxman, managing director of working capital solutions at Wyelands Bank (pictured above, right).

“By supporting small and medium firms – providing the business finance they need to grow – we fill a vital gap in the market. 

“We give customers direct access to decision makers and work together to find the right funding solution for them, as this deal with AD Bird Stainless Limited demonstrates.”

Nigel Bird, managing director at AD Bird Stainless Limited (centre), added: “The funding is a very important driver in our growth and allows us to manage our future plans. 

“We are extremely busy with new orders and supporting existing customers, both in the UK and overseas. 

“This year, we are on track to hit our forecast turnover, which has been assisted by our increased focus in the marine sector.”

Wyelands Bank worked with Liquidity Club, which arranged the deal.

Also pictured: Adam Simpson of Liquidity Club

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