Independent Growth Finance (IGF), a commercial finance provider for SMEs, has provided a £1.5 million asset-based lending line to MCS ControlSystems, a utilities technology provider.
Following the departure from the market of an existing financier, MCS was challenged with securing funding within a tight timescale in order to support the working capital growth. The finance, provided by IGF, will support the expansion of MCS into new markets and expansion of premises by releasing capital.
MCS Control Systems Ltd has over 40 years’ experience of providing quality integration service solutions into a wide range of industrial market sectors, offering full turnkey systems capabilities, incorporating Principal Contractor status, for virtually any process control system.
Jon Hughes, commercial director of IGF ABL, IGF, said: “MCS provides crucial control panels to the utilities sector and plays an important role in improving the technology being used across the industry. The company has a clear opportunity for further growth and expansion, so we are proud to support the ambitions of this thriving business.”
Steve Poole, managing director, MCS Control systems, said: “We needed to secure a funding solution within a very demanding timeframe and IGF was able to think outside the box to deliver the creative and innovative option that we required.
“The team at IGF understood our circumstances, were willing to meet our specifications, and operated with extreme efficiency throughout the whole process.”