Cable firm acquires £6.5m warchest

The £6.5m asset-based funding package from Lloyds TSB Commercial Finance included a £1.5m stock funding line, which is secured against the value of the firm’s finished goods and provides additional borrowing capacity.

As part of its growth strategy, the business has used the funding to enhance its product range by purchasing state-of-the-art machinery that will enable it to supply products to new overseas markets.

Established in 1984, Doncaster Cables has an annual turnover of £40m and 124 employees.

Chris Mallinson, director at Doncaster Cables, said: “Doncaster Cables is committed to delivering high quality, reliable cabling to customers, and with the funding support of Lloyds TSB Commercial Finance we are able to capitalise on increased client demand whilst also enhancing the products we can offer to them.”