Normanton based Anglia Metal Limited (Anglia Metal), an Italian owned leading manufacturer of plain and tinned copper wire and conductors, has completed the refinance of the business with Independent Growth Finance (IGF).
Anglia Metal are the only dedicated manufacturer of copper wire and conductors in the UK and Ireland and is renowned for providing a first-class service with excellence in product quality and exceptional lead times. With over 30 years of experience, Anglia Metal has an established track record of providing its products to a variety of sectors including medical, power, telecommunications and automotive both here in the UK and across Europe.
The refinance of Anglia Metal will provide the business with the opportunity to capitalise on a shifting economic landscape, with a range of opportunities already being seen in the increased demand for ventilators in the medical sector and UK customers looking to refocus their attentions on sourcing products from the UK rather than overseas.
Howard Bryant, General Manager of Anglia Metal said
, “As the last manufacturer of copper wire and conductors in the UK, Anglia Metal provides a key service to its customer base both nationally and internationally. Since I have joined the business, I have seen first-hand the incremental role that Anglia plays to all customers across a range of key industry sectors. The current economic uncertainty has clearly posed challenges, as it has to all businesses worldwide, but, with a strong management team and excellent experience within the industry, Anglia has been able to mitigate this. In addition, we are looking at new opportunities with existing and new customers which we may be able to capitalise on to drive the business forward.
We would like to thank HSBC for their continued support over the years and look forward to working alongside IGF and Santander on our future strategies for taking the business forward.”
Yorkshire based dealmakers Castle Square Corporate Finance provided corporate finance advice to management and the shareholders on the company refinance.
Philip Jordan in the Leeds office of law firm Progeny Law provided legal services and advice to management and the shareholders of Anglia Metal.
Castle Square is an independent, specialist mid-market corporate finance boutique operating from offices in Sheffield and Leeds. Castle Square has a proven track record of successfully delivering corporate finances services on a wide range of clients, based nationally and internationally. The first transaction for the recently opened Leeds office, in a particularly challenging economic climate, is further evidence of Castle Square’s ability to support the right businesses of all sizes and nature and demonstrates the Firm’s continued commitment to advising and supporting local businesses to achieve their future strategies.
Director Mark Phillips from the Castle Square Team in Leeds advising the directors of Anglia Metal on the transaction.
Mark Phillips said,
“Since joining Anglia Metal in February 2019, Howard Bryant has done an excellent job in steadying the ship and allowing Anglia Metal to focus on its future strategy alongside Italian based Managing Director, Dimitri Cordublas.
Anglia Metal manufactures a key product to a number of applications across a wide range of sectors and is the last remaining manufacturer of copper wire and conductors here in the UK and Ireland. The ability to work cross border with Dimitri and the Italian parent company, Continuus Properzi, further emphasises Castle Square’s reputation for working both nationally and internationally.
It has been thoroughly enjoyable working alongside both Howard Bryant and Philip Jordan, whilst developing a strong and well-respected relationship with all stakeholders, to assist Anglia Metal in achieving a full refinance for the business in what is a challenging financial market under current global circumstances with both Brexit and Covid-19.”.
London head quartered Progeny Law’s (with six further offices across the UK, including Leeds and Edinburgh) is the first and only UK law firm to provide a unique framework of advice which brings independent financial planning, asset management, tax, HR and private and corporate legal services together in one place. This suite of services allows Progeny to be ideally positioned to support its clients and to help them and their businesses to survive and thrive through these unprecedented times.
Led by Corporate Partner Philip Jordan and supported by Director Julie Evans and Senior Solicitor Tobias Adkins, the Progeny corporate and property teams provided legal advice and support to the management and shareholders on the transaction.
Philip Jordan said,
“We were delighted to provide the legal expertise and advice to assist Anglia Metal in their refinancing of the business. It has been a pleasure to work with Howard at Anglia Metal and Mark at Castle Square on the project and our robust and collaborative working relationship helped overcome the challenges of the prevailing financial climate, as well as the logistics of working through the lockdown.“.
Richard Spielbichler, ABL Director in IGF's Manchester office led on the refinance alongside Senior Underwriter Jim Millar.
Richard Spielbichler said, “
Our core purpose is to support the growth aspirations of UK SME’s, but in these challenging times businesses are facing up to new realities and changing opportunities. This is where Asset Based Lending (ABL) can help.
Whilst it is a difficult time for manufacturing, Anglia Metal provides product for numerous applications and is seeing continued demand for its services, particularly within the medical equipment space. IGF is delighted to have the opportunity to provide continuity of funding to allow Anglia to meet their customer needs.
We welcome Anglia to IGF and look forward to a long and successful relationship supporting Howard and the team with their working capital requirements.”.
Dan Houman of Santander’s Leeds office provided clearing banking facilities to Anglia Metal and Alistair Hayes of Shoosmiths Birmingham office provided legal advice to IGF.