Partner Article

Oldham-based James Briggs secures £9 million funding deal

Oldham-based manufacturer James Briggs, a £50 million turnover business with 200 staff, has secured a £9 million working capital facility from RBS Invoice Finance to assist international growth activity and expansion into new sectors.

The business was backed by Endless LLP in a management buyout in 2013 and, since the deal, James Briggs has received investment from Endless to support its operational improvements and aggressive sales growth plan.

In 2014, the manufacturer surpassed the £50 million turnover threshold to celebrate a record year of revenue growth thanks to its impressive technical expertise and innovative products.

James Briggs is focused on further growth in 2015 and the new working capital facility agreed with RBS Invoice Finance provides additional funds to support overseas activity and a product range expansion into new sectors.

Chairman of James Briggs, Jim Sumner, said: “We are delighted to be working with the RBS team and have been very impressed with their desire to understand our business and build a partnership approach.

“The next few years will be very exciting for James Briggs.”

Portfolio Director at Endless, Ian Plumb, said: “Since acquisition the operational improvement at James Briggs has been outstanding.

“With the business’s technical expertise and market-leading can decoration techniques, the platform has been laid for a period of accelerated growth.

“The funding from RBS Invoice Finance will allow the business to pursue opportunities in new territories and new sectors which provide a hugely exciting future for the business.”

This was posted in Bdaily's Members' News section by Sophia Taha .