James Cropper plc has completed a £25m club-bank financing deal with NatWest and HSBC UK, backed by an 80% guarantee by UK Export Finance (UKEF) to support its further sustainable growth goals.
The AIM-listed business consists of three distinct operating divisions with a combined turnover of over £100 million sales, employing over 600 full-time employees across four global manufacturing locations and an operational reach to over 60 countries. It manufactures a range of products; from bespoke coloured and textured papers, and next-generation sustainable moulded packaging, to specialist materials at the cutting edge of technology that supports the advancement of green energy.
The funding, which was supported by UK Export Finance and coordinated by NatWest, will be used to support James Cropper’s strategic innovation, growth capex and other improvements including new machinery, building expansion, decarbonisation plans and improvement to upcycling processes.
Isabelle Maddock, Chief Finance Officer, James Cropper, said, “Our commitment is to create pioneering materials and sustainable solutions in support of the markets we serve and in taking direct responsibility for progressing our operations via all our ESG priorities. The funding will allow us to invest in our business while also delivering on our commitments to our customers.”