Wireless specialist prepared for growth following £2.75m ABL deal
MS (Distribution) UK Limited, (MSDist), has secured a £2.75m asset-based lending funding facility with Royal Bank of Scotland’s asset-based lending team.
The deal will support the wireless connectivity specialist as it continues to focus on expansion and increasing market share in a rapidly growing marketplace.
Based in Banbury, Oxon, MSDist is a wholesale distributor of niche wireless network IT equipment and associated products. The firm also offers certified training courses, technical support, VoIP and Wi-Fi CCTV surveillance systems.
Established in 2002, MSDist has achieved consistent, significant growth for many years exploiting the opportunities presented by the rapidly growing £2bn wireless market.
Royal Bank of Scotland’s asset-based lending team were introduced to MSDist by the company’s banking relationship director at NatWest. The agreed asset-based lending facility will support working capital, helping the firm to meet the increased cash flow demands generated by its growth.
Robin Young, chief financial officer at MS (Distribution) UK Limited, said:
“Many organisations now realise that wireless networks are, and will be faster and have the ability to carry greater levels of data than mobile and wired networks. As a result, we have achieved very significant rates of growth during the last few years due to the increasing demand for this type of technology in the marketplace.
“The ABL facility provided by Royal Bank of Scotland will enable us to continue to maximise on the opportunities this growing market has to offer. It will allow us to maintain a real focus on growth, supplying larger volumes and a wider customer base with products that are readily in demand.”
Richard Preston, corporate business development director, Royal Bank of Scotland, said:
“The management team at MSDist have an impressive commercial aptitude and have achieved significant growth by maximising on the benefits presented by the burgeoning marketplace. The ABL facility we have put in place has been designed to support cash flow, enabling the company to continue to pursue its growth strategy and achieve higher revenues.”