Leumi ABL supports Liberty House Group with growth capital for its engineering businesses
As the UK steel industry continues to generate headlines, Leumi ABL is delighted to have supported Liberty House Group with a £20m asset-based lending facility comprising of invoice discounting and stock finance. The facility will be utilised by Liberty Tubular Solutions and Liberty Distribution to deliver their ambitious growth plans that are already gathering pace.
As part of Liberty Industries Group, the Liberty Tubular Solutions and Liberty Distribution Divisions are leading UK manufacturers, distributors and suppliers of steel tubing and specialist tubular components to the automotive and aerospace industries. The businesses are part of Liberty House Group, part of an international privately owned business specialising in metals trading and the manufacture and distribution of steel and advanced engineering products which employs c.3,000 people globally and has a current turnover of approximately $7bn.
Sanjeev Gupta, executive chairman at Liberty House Group, said:
“Leumi ABL are an excellent choice of partner to fund our growth plans for this recent strategic acquisition for the group. They were able to work quickly and closely with us to deliver a flexible funding package that will support the growth of our new division. Liberty had access to key senior personnel at Leumi throughout the process which meant the financing was concluded in good time and in line with expectations, allowing us to move forward with our exciting plans for the business.”
Rob Wakeford, regional sales director at Leumi ABL, said:
“We are delighted to support Liberty House Group at a time when the state of the UK steel industry is very much in the spotlight. The combination of Leumi’s flexible and personal approach together with a credit decision made quickly meant that Liberty could move forward with the certainty of funding being in place. We very much look forward to working with the team at Liberty.”
