£1.8m finance deal opens doors for Sliders UK

Preston-based door manufacturer Sliders UK has secured a £1.8m invoice discounting facility which will help fund the company's ambitious growth plans.

Sliders UK supplies more than 300 inline sliding doors, 70 bi-folds and more than 200 composite doors each week to other fabrication businesses, such as trade suppliers, installers, general builders and developers.

The company, founded in 2002, moved into its 70,000 sq ft factory in 2008, and over the last year has seen significant growth in demand, with sales increasing by 20 per cent over the last 12 months.

As a result, the business needed a larger facility to serve its growing customer base, while also continuing to invest in growth.

Bibby Financial Services's Corporate Team provided Sliders with a larger facility than its previous funder, strengthening cashflow and providing the working capital it needs to support its growth plans.

Jonathan Foxcroft, finance director at Sliders, said: “Our business has gone from strength to strength in recent years but, as a result of our success, we outgrew our pre-existing funding agreement with our previous funder. Bibby Financial Services offered us a larger facility that has the capacity to grow alongside our business.

“This extra working capital and the flexibility of the facility provided by BFS means that we no longer need to worry about cashflow, and can focus on increasing sales and developing the business. We have ambitious plans for the future and look forward to working alongside BFS as we continue to build on our growth.” Chris Farnworth, corporate manager at Bibby Financial Services, said: “Sliders is an impressive business and we’re excited at the prospect of working alongside this growing business. This larger invoice discounting facility has helped to address cashflow challenges and finance growth in the coming years. Sliders can also continue to build relationships with its clients by managing its own sales ledger and credit control."