£16m package puts metals supplier on course for growth

METALS supplier Westbrook Resources is expanding its operations after securing a £16m funding package.

The firm, based in Dronfield, near Sheffield, secured the trade finance facility from Lloyds Bank Commercial Banking to plough into growth.

Westbrook is a major producer and supplier of alloys, metals, minerals and ores from around the world. It was founded in 2000 with just five staff.

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It supplies more than 60 individual products with a range of grades, and produces ferro titanium in Sheffield.

Westbrook managing director Shaun Walton said: “As new opportunities develop, our business is constantly changing direction.

“We were looking for a bespoke facility tailored to the requirements of our business.

“Rather than offering an ‘off-the-shelf’ package like many other banks, Lloyds Bank was flexible enough to accommodate our financing requirements whilst offering a facility which will grow with the business.”

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Adam Barraclough, relationship director for Lloyds Bank Commercial Banking in South & East Yorkshire, said: “Westbrook is an excellent business supported by a visionary management team that has built a strong, global client-base. It has significant potential to expand its operations through further investment and this is exactly what our trade finance facility is designed to do.”

The team devised a monitoring system that accurately forecasts the level of working capital Westbrook needs on a daily basis in order to complete its trades.

Westbrook was helped by Sheffield-based corporate finance specialists Castle Square.

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