Uniroyal Global secures multi-million-pound finance package

Earby-based coated fabrics specialist Uniroyal Global Limited (UGL) will continue to grow its export operation after securing an £8m finance deal.

The new arrangement, provided by Independent Growth Finance (IGF), includes an asset based lending facility that incorporates invoice discounting, stock and plant and machinery funding lines and improves the businesses access to liquidity.  

The new package provides UGL with a firm financial platform to continue on its growth trajectory and increase production to meet growing demand.

UGL is manufactures cast, extruded and vinyl coated fabrics with a focus on surface design, predominantly serving the automotive market.

It has a long heritage dating back over 100 years, with today’s business deriving from two independent family textile businesses. The company currently employs around 225 staff.

Howard Curd, CEO of Uniroyal Global Limited, said: “At a time of continued economic uncertainty and a challenging period for the global automotive industry, this new facility demonstrates the market’s confidence in UGL and our clear ambition to serve both domestic and export markets.”

Ben Smith, debt advisory director at Interpath Advisory, added: “We are pleased to have advised UGL on this new financing package, which will unlock significant additional funding capacity across the business enabling it to pursue growth in its important export markets.

"The facility will provide the capacity for UGL to deliver on its strategy to be a leading supplier and strategic partner to its customers.”