Monday, September 27, 2021

Northants distribution & manufacturing group lands funding package to advance climate change aspirations

A distribution and manufacturing group, headquartered in Northamptonshire, has used a finance package from NatWest to progress its climate change aspirations, as it seeks to become Net Zero by 2030.

See Limited is made up of a trio of businesses: Inspired Surfaces Limited, Rex Bousfield Limited and Performance Panels Limited; all of which are involved in the distribution and production of wood veneer and laminate surfaces.

In 2016, a new management team revitalised the group and began driving a green agenda, aimed at improving its carbon footprint and encouraging sustainable practices.

NatWest worked with the business to secure a £1.1 million funding package, which includes both an Invoice Finance facility and funds from the bank’s Coronavirus Business Interruption Loan Scheme (CBILS).

After initially applying for a financial injection to pre-empt the potential damaging impact of Covid-19, the group rebounded stronger and quickly which enabled these funds to be used to drive forward its climate change goals, which includes becoming Net Zero by 2030.

As part of its sustainability plans the business has invested in new machinery, equipment, and processes. Since 2019 the group has recorded and measured its C02 impact through its business operations to ensure full transparency with all stakeholders. It has also joined the Science Based Targets initiative, a global partnership aimed at encouraging companies to act against climate change.

Robert Thompson, CEO of See Group Holdings, said: “The finance from NatWest has provided our three businesses with the financial flexibility required to navigate such a challenging period. We have since defied the odds and performed very well despite the tough business climate, which is fantastic.

“But what’s more encouraging is that we’ve got a healthy pipeline of work for the near future and can use the investment package to continue our plans to become a greener, more environmentally-conscious business.”

Paul Marsden, relationship manager at NatWest, said: “It’s been a tough time for businesses so it’s encouraging to hear that these companies are performing well and remain committed to their sustainability plans.

“Pledging extensive funds to advance climate change strategies is a real testament to the team, who have been working relentlessly to reduce their carbon footprints and implement greener processes. They’ve proven themselves to be industry leaders in this area, and it was great to supply the funds that facilitated this progressive green agenda.”

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