Dudson Limited02 November 2017
World-leading specialist in the manufacture and supply of ceramic tableware for the leisure and hospitality markets, Dudson Limited, has secured a £6,750,000 senior debt facility from Shawbrook Bank.
Shawbrook Bank structured and delivered the senior debt facility, comprising a working capital facility, stock finance and a property term loan, to enable the business to invest in its plans to drive further expansion in domestic and international markets.
Headquartered at its manufacturing base in Stoke-on-Trent, the family-run firm has a strong heritage dating back to 1800 and today employs over 400 people. Now in its 9th generation of family ownership, the business supplies the global travel and hospitality industry, counting Virgin Atlantic, Nandos, Wagamama, Disney and Princess Cruises among its customers.
Graham Stott, Group Finance Director of Dudson Limited, said: “The funding delivered by Shawbrook Bank has improved our headroom position on all counts. The additional working capital will enable the business to realise its operational synergies and achieve its longer-term growth plans, whilst maintaining the flexibility to adapt and respond as market dynamics change. In addition, the asset-based lending structure is key to avoiding any dilution of equity, a vital consideration for a business in family ownership.”
Mr Stott continues: “Working with Shawbrook Bank has been a very positive experience. They have been in dialogue with us for about two years prior to this transaction. It was clear from the outset that their team understood our business requirements and objectives and they invested senior management time to effect a smooth transition.”
“The on-going relationship is important to us. Since inception, the Shawbrook team has been actively engaged in what we are looking to achieve, providing a service that is supportive and pragmatic as well as flexible. With the transaction with Shawbrook completed, all of the constituent parts are now in place to deliver our next phase of strong commercial growth.”
Graham Stott, Group Finance Director of Dudson Limited
"Dudson Limited is a fantastic example of a British manufacturing business that is successfully driving strong expansion, both domestically and internationally. We are proud and delighted to support the management team with the quantum of working capital that will enable the business to realise its ambitions through further investment in product and process innovation and its people.”
Nick Leitch, Managing Director, Midlands