Synnovia
Posted: 24th May 2024 | Share
Leumi ABL is pleased to be supporting Synnovia, an £80m turnover specialised manufacturer of components and consummables to niche markets, with a strategic facility loan of approx. £20m.
Synnovia, headquartered in Knaresborough with multiple global locations, is an acquisitive consolidator of businesses supplying specialist products both in the UK and globally.
The financing package provided to Synnovia includes a combination of Invoice Discounting, Plant and Machinery and Term Loan, aimed at facilitating Synnovia’s continuous growth throughout 2024 and beyond.
Georgina Clark, Group FD for Synnovia, added: “We are grateful for Jason and the team at Leumi ABL for their support in our strategic direction and global market expansion. Their approach in providing funding for export debtors, coupled with a single point of contact for our relationship, streamlines our interactions and enhances our operational efficiency. The Leumi structure offers funding across all asset classes with an additional Term Loan to support our projected growth, all under one roof, which has been instrumental.
The speed of execution and decision-making processes have been especially appreciated, aligning with our needs for swift and effective financial solutions. We're excited about the opportunities this partnership opens for Synnovia, allowing us to further leverage our unique position in niche markets and accelerate our growth trajectory.”
Jason Holland, Regional Sales Director for Leumi ABL in the Midlands said: “Synnovia stands out as a well-managed Group operating in niche markets with considerable know-how in manufacturing its products.
Their expertise in manufacturing, combined with a clear vision for growth, sets them apart and makes for a swift partnership. We're optimistic about the growing global demand for their products and proud to be part of their growth journey. It’s been a pleasure to work with the team at Synnovia”.