Centric provides Britdoors Group with a £2.77m lending facility
Published: 08 October, 2012
NEWENT: Centric Commercial Finance has provided Britdoors Group Ltd with a £2.77 million working capital and acquisition facility in order to facilitate the acquisition of two divisions of Grouphomesafe. Britdoors Group is a designer, manufacturer and supplier of composite entrance doors.
“We have worked with the Centric Commercial Finance management team over the past 12 years and we knew that they would understand our business needs. Due to Centric’s flexible approach and speed of execution, we were able to proceed with the transaction smoothly. There was no bureaucracy or red tape with Centric and they are very quick to make decisions,” said John Cowley, Managing Director of Britdoors Group.
“The Britdoors Group deal required a detailed structure and we were able to construct a bespoke facility in a short period of time. In 2012, we have seen a lot of these deals come through and once again, we’ve proved our ability to deliver tailored solutions for our clients,” said Andrew Rutherford, Business Development Director at Centric Commercial Finance.
Britdoors Group has acquired the Homesafe Doors and Securidor brands and, moving forward, they will be marketed from Britdoors’ manufacturing facility in Newent, Gloucestershire. Other changes to the businesses will include the enhancement of systems and controls, improved sales and marketing, and investment in quality control and production processes.