Catalyst Finance helps water-proofing company
Anglesey-based AAC Waterproofing Ltd has agreed a new finance deal with Catalyst Business Finance, the short-term business finance specialist.
Established in 1976 as Anglesey Asphalt Company, AAC has been trading in its current format since 1989. Specialising in commercial and industrial roofing, AAC founder Ian Parry foresaw the changes which needed to occur to take flat roofing into the future. Ian discovered Prelasti EPDM, which was developed by tyre manufacturer Pirelli. The Prelasti membrane is made-to-measure by vulcanising sheets at the factory on Anglesey and AAC has the UK Distribution Rights for the Prelasti system. The company install & supply to commercial building projects across the North West, including major high-profile developments in the North West & Wales.
Andy Porter, managing director of AAC Waterproofing commented: “We are currently experiencing an upsurge in new contracts and it is vital to keep our production capability as its maximum to fulfil our growing order book. As soon as we started talking to Catalyst about our plans for the future and the assistance we needed, we knew they would be the right lender for us. Martin and the team have been outstanding with their support and foresight in helping us with this facility.”
Laura Hibbert, finance director of AAC Waterproofing said: “We needed to future-proof our manufacturing capabilities for the Prelasti system. By using a short-term loan from Catalyst Finance, it has enabled us to move our business forward without using vital cash from the business. We have been able to spread the costs of our machinery upgrade over a 12-month period which has been vital in supporting our cash flow position.”
Martin Emmott, national sales director at Catalyst Business Finance said: “Working closely with Andy, Laura and the team at AAC Waterproofing has enabled us to create a tailored funding facility which has secured their manufacturing capabilities for the next 10-15 years. Our aim is to provide short term finance solutions which can help our clients move their businesses forward.”
