AURELIUS Finance Company provides working capital solution to Safestyle plc
AURELIUS Finance Company (“AFC”) has provided a comprehensive asset-based working capital facility to Safestyle UK Plc, the listed retailer and manufacturer of windows and doors to UK homeowners.
Established in 1992 and listed on the AIM market, Safestyle has grown from its Yorkshire roots to become one of the UK’s largest national providers of low cost PVC windows, doors and conservatories to UK homes, and in 2017 produced over 265,000 window frames and carried out over 60,000 installations.
Despite many years of consistent growth and profitability, exceptional circumstances during a highly disruptive 2018 has resulted in the installation of a new experienced management team and a business focused on delivering a plan centered around stabilisation and a return to profitability and growth.
As a result, Safestyle required a new lender, who understood the commercial situation and could tailor a bespoke debt package to meet the ongoing needs of the business as it executed a turnaround plan.
Safestyle CEO, Mike Gallacher said: “The Aurelius team have worked closely with us in recent weeks and established a strong relationship based on a shared understanding of our business and the challenges and opportunities we face. We are looking forward to a successful partnership over the next few years.”
Karun Dhir, Managing Director of AURELIUS Finance Company said: “Delighted to support yet another UK business that turned to AFC when it needed supportive lenders who were prepared to take the time to understand their clients’ needs and deliver a product that exceeded that requirement.”