Aldermore has provided a £2m bulk invoice discounting facility to Capital Cooling Refrigeration Limited, a commercial refrigeration company based in Broxburn, Edinburgh.
The business which designs and develops its own brand refrigeration units for retail, food service, leisure, hospitality and manufacturing outlets. The company also specialises in the design and installation of cold rooms in restaurants, hotels and butchers’ shops.
The working capital facility from Aldermore will help finance Capital Cooling’s everyday working capital requirements and ensure the business can achieve its growth plans.
Aldermore completed the refinance of the business following an introduction from Rcapital, who invested in the business in December 2017.
Phil Emmerson, COO of Rcapital, said: “After we invested in the Capital Cooling business, we looked for a funding partner to ensure the necessary support was in place to meet its growth projections. We are delighted that Aldermore Bank was able to meet those needs and move quickly to complete the transaction following agreement of heads of terms.
“We were pleased that Aldermore took the time to understand the business, and went above and beyond to tailor their offering to our requirements.”
Rick Tasker, business development manager at Aldermore, added: “We take pride in understanding our clients, their plans, and ultimately how we can work together to make a project become a reality. We have been impressed by the vision of the new management team and the way it plans to drive the business forward.
“We look forward to working with the company and Rcapital in the future as it reshapes its legacy, and its position in the refrigeration market.”
