High Wycombe: Micronics gets NatWest growth funding with support of HWCF

HW Corporate Finance (HWCF) has announced growth capital fund raising for Micronics, a Buckinghamshire-based business specialising in proprietary products for the electronic flow metering industry.

The team led by partner David Lock worked with management to develop a business plan before sourcing and negotiating a tailored debt funding package. Funding was raised through Andy Dent of NatWest Bank.

Micronics was established in 1985 to design, manufacture and distribute ultrasonic clamp-on flow meters. Over the past 28 years, it has invested heavily in research and development to create an extensive range of branded units with global appeal.

In order to underpin its growth strategy, the owner managers, Michael and Edward Farnon, were looking for a funding solution tailormade to their business. HWCF ran a full debt auction across a number of institutions with the successful package comprising asset finance, invoice finance and cashflow finance.

Michael Farnon, managing director, said: "With the business poised for the next phase of growth we had a range of internal initiatives which required a strong and supportive funding partner. HWCF used their extensive network to introduce a number of interested parties and did an excellent job in negotiating the best package for our requirements."

Lock added: "Michael and the team have built an impressive business which has bucked economic trends and delivered impressive results in recent years based on high demand from an international audience."