Reading: Leumi ABL supports Liberty House Group with growth capital
As the UK steel industry continues to generate headlines, Leumi ABL, which has one of its bases in Reading, has supported Liberty House Group with a £20 million asset-based lending facility comprising invoice discounting and stock finance.
The facility will be utilised by Liberty Tubular Solutions and Liberty Distribution to deliver ambitious growth plans which are already gathering pace.
Liberty Tubular Solutions and Liberty Distribution Divisions are leading UK manufacturers, distributors and suppliers of steel tubing and specialist tubular components to the automotive and aerospace industries. They are part of Liberty House Group, part of an international privately-owned business specialising in metals trading and the manufacture and distribution of steel and advanced engineering products which employs circa 3,000 people globally and has a current turnover of approximately $7 billion.
Sanjeev Gupta, executive chairman at Liberty House Group, commented: “Liberty had access to key senior personnel at Leumi throughout the process which meant the financing was concluded in good time and in line with expectations, allowing us to move forward with our exciting plans for the business.”
Jonathan Hughes, regional sales director at Leumi, added: “We are delighted to support Liberty House Group at a time when the state of the UK steel industry is very much in the spotlight.”
