Cheshire packaging firm seals £4m deal backed by UKEF
Cheshire-based Packaging One Ltd has secured a £4m contract with one of the world’s largest technology companies, supported by a loan from NatWest which was guaranteed by UK Export Finance (UKEF) – the government’s export credit agency.
Packaging One is the creator of MediaWrap, a patented and trademarked solution for packaging smartphones, laptops, and other hi-tech items. Despite the high demand for this product, the firm was facing a cashflow problem: it needed to pay suppliers before receiving payment from overseas customers. Without a reliable cash buffer, the firm risked turning down the multi-million-pound contract.
After a referral from the Department for Business and Trade, UKEF worked with NatWest to arrange a £700,000 loan, backed by a General Export Facility (GEF) – a guarantee designed to support exporting SMEs. This gave Packaging One the funds to pay suppliers on time and fulfil the contract.
This is the latest development in Packaging One’s export growth. The company has now expanded into new markets across North America, Europe, the Middle East and East Asia, which has in turn supported at least 50 new full-time jobs at its Middlewich headquarters. The firm is targeting turnover growth of approximately 70%, from £9.4m in 2025 to £16m by 2028. A planned expansion into the United States – with a new manufacturing facility – could further increase business opportunities.
Kevin Ledwith, UKEF export finance manager for Cheshire, said: “The story of Packaging One shows perfectly why UKEF wants to support more SMEs to grow their exports. By backing them with our General Export Facility, we enable them to win and fulfil orders on the world stage, which means they can continue to sustain local jobs and growth.”
Emma Chesworth, director at Packaging One, said: “The support from UKEF and NatWest has enabled us to take on bigger orders than we could have managed before. This has kickstarted a process: more projects, more people employed, and more local benefits.”
Rhys Lloyd-Jones, trade finance manager at NatWest Group, said: “Supporting ambitious family businesses to grow internationally is central to NatWest’s commitment to helping the economy thrive.
“By working with UK Export Finance, and delivering on our pledge to support British businesses, this funding solution has given Packaging One the confidence and working capital needed to fulfil an ongoing export contract with a major US brand and allowed them to expand into new global markets whilst boosting the local economy by creating jobs. This a great example of how the right support can help innovative UK firms compete and succeed on the world stage.”
This deal forms part of NatWest’s £2bn export lending package, which sits within the £11bn UKEF-backed SME lending commitment made by the UK’s five leading banks.
UKEF is backing small businesses, making it easier than ever for them to access finance through digital services, quicker response times and targeted support, helping them to harness the power of international markets.