Aldermore has agreed a new asset finance facility worth over half a million pounds with Lancashire-based Sturdy Print.
The business, owned by three brothers, has an annual turnover of £3 million and employs 35 staff. The company offers day-to-day printing services, as well as providing B2B services, creating a full range of labels for products across all industries.
The £530,000 facility from Aldermore has resulted in productivity at Sturdy Print increasing by 300% and has supported the firm’s continued growth and increasing customer demands.
Stewart Sturdy, co-owner and financial director of Sturdy Print, said: “We realised a number of years ago that to survive as a business we needed to be able to provide more than the traditional Litho-printing service. Over the years we’ve gradually improved the size and productivity of the machinery that we own, to meet the increasing demand for B2B printing services – but that machinery isn’t cheap.
“We approached our financial adviser for his recommendations and he put us in touch with Aldermore, who delivered on everything we were looking for. It is so rare to work with a lender who understands the complexities of our industry and can see the long-term value in the equipment we need.”
Steve Price from Ilsley Finance Ltd, said: “Sturdy Print has been a client for some 18 years and this acquisition was the latest in a long line of equipment upgrades. Our working history enabled us to source a competitive and attractive facility very promptly.”
Sean Thorn, business development manager at Aldermore, said: “This equipment at a cost of £530,000 is a significant purchase for Sturdy Print but will make their business work much more efficiently. It is always encouraging to see family-run businesses flourishing and we’re delighted Aldermore is able to support Sturdy Print in achieving their business goals.”