Leumi has provided ABL facilities of over £10 million to DDD a manufacturer and distributor of health and beauty brands globally via its Dendron and Fleet subsidiaries.
The business has combined debtors, property and plant assets to provide funds for investment and growth at a time when the business is expanding internationally in both existing and new markets.
DDD also supplies many of the best known names on the UK high street with both own-brand and branded product as it approaches its busiest time of year.
Jason Holland, regional sales director for Leumi ABL, commented: “This is a typical ABL deal where we were introduced by top ten accounting and advisory business, Moore Stephens, who had been advising the client on a range of issues which led to a refinancing of the Group. We essentially provided a bigger funding package and an ‘easier to deal with’ facility that was attractive to DDD.”
Charlie Wadsworth, group CFO at DDD, commented: “Leumi have been great to work with in arriving at the right facility to enable significant investment into the business over the next several years. This is an important phase of growth for the DDD Group and we are really happy to be working with Leumi who are a helpful, flexible and collaborative partner.”