West Yorkshire manufacturer creates new jobs with multi-million-pound funding
Rosehill Polymers Group has finalised a multi-million-pound deal with Virgin Money and UK Export Finance to complete a refinancing and management buyout of the business and accelerate its worldwide growth ambitions.
Since 1988, Rosehill Polymers has established itself as a ‘market leader’ in sustainable polymer systems design, development and manufacturing at its ‘state-of-the-art’ facilities in Sowerby Bridge, West Yorkshire.
The business serves a diverse array of markets and industries, including offshore energy, highways, rail, sports & play, and security. It aims to provide the best in sustainable polymer innovation at the rapid speed needed to help its customers keep pace with the demands of their ever-changing environments.
Rosehill exports products to over 550 customers in 52 countries across the world, and many of its products are manufactured using recycled and low carbon impact materials which sets the company apart from their competitors.
The funding package from Virgin Money will help Rosehill to complete a management buyout, continue its worldwide growth and accelerate the move into new international markets.
A key growth area that Rosehill will focus on is the decarbonisation and modularisation of construction materials used within the rail and highways sectors, by expanding its design, development and production of products primarily based on the use of recycled materials as a primary raw material for the manufacture of key elements within capital infrastructure projects.
Rosehill anticipates its continued development within this sector will create new highly skilled job opportunities, both across its production sites in West Yorkshire as well as in its supply chain.
Virgin Money’s Business Development and Trade Finance teams worked closely with UK Export Finance (UKEF) to get the deal finalised. The funding package includes a UKEF General Export Facility (GEF) loan guarantee which covered 80 per cent of the financing, enabling Virgin Money to complete the transaction.
Dr Alexander Celik, managing director of Rosehill Polymers Group, commented: “This new funding package from Virgin Money will enable Rosehill to pursue our growth strategy as we focus on developing sustainable solutions for both the infrastructure and energy markets across the globe.
Craig Wilson, head of FX sales & trade finance at Virgin Money added: “It has been fantastic to see our international trade finance specialists and business development colleagues working alongside UK Export Finance to deliver a truly bespoke and innovative banking package for the Rosehill team.”
By Matthew Neville – Senior Correspondent, Bdaily
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