Croft Associates - Capital boost from Santander for container design company
Croft Associates is an Oxfordshire-based company working in the radioactive materials transportation and storage sector. In 2014 Santander provided them with a combination of Growth Capital funding, a performance bond and full operational banking facilities.
Santander’s Growth Capital product enabled Croft to complete its licensing work on a next generation container design for the storage of nuclear waste material prior to any firm container orders being received. This higher risk type of funding was particularly attractive to the company because it didn’t require the shareholders to relinquish any equity stake.
The company’s continued development work created additional high-value jobs, and 15 months after the initial transaction they were able to repay the Growth Capital loan and other lending facilities in full.
“Santander's willingness from the outset to understand the business and its individualism, was invaluable to us as we sought to take advantage of growth opportunities.”
Clive Beattie, Croft Associates.
Sector: Radioactive material transport and storage.
A combination of Breakthrough Growth Capital, performance bond and full operational banking facilities.
Result: Croft was able to secure significant new orders worth many millions of pounds, with the aim of transforming the business over the next few years.
What is Growth Capital?
Growth Capital is an innovative and flexible form of finance that is designed to help UK businesses grow, without giving away control or significant equity, and is structured to minimise the impact on cash flow. Find out more on the Knowledge Hub.
How businesses can qualify?
To qualify for a Growth Capital loan, a business must have a turnover of between £2 million and £50 million per annum, while posting annual growth of around 20% or more in a combination of turnover, profit or employment.
All lending is subject to status and our lending criteria.
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