Surface Technology International Secures £11.3M Lending Facility from Cynergy Business Finance
STI, under the ownership of private investor Rcapital, has been in operation since 1989 and employs approximately 375 people across the UK.
Specialising in printed circuit board assembly and box-build, STI focuses on the aerospace, defence, and security sectors. It plays a critical role in supporting mission-critical platforms for leading aerospace and defence OEMs globally.
The collaboration between CBF, STI, and Rcapital has resulted in a comprehensive multi-asset ABL facility. This financial boost is aimed at fuelling STI’s projected growth over the forthcoming year.
Sam Duberley, Investment Manager at Rcapital, said: “We are pleased to have secured additional funding from CBF. This new funding package is a big vote of confidence in STI and its turnaround. The CBF team moved quickly to implement a flexible and cost-effective funding solution that should provide the business with the headroom it requires to achieve its ambitious growth plans.”
Paul Fraser, Executive Director at Cynergy Business Finance, said: “It was a pleasure working with the STI and Rcapital team and we’re pleased to have been able to support them with their future ambitions. STI is a business with decades of experience and credibility in a highly specialised industry, and coupled with Rcapital’s support and leadership are well positioned to continue their impressive growth over the coming years.
“This facility will fuel that growth and demonstrates CBF’s strength and ability to create flexible and tailored financing solutions to support the needs of ambitious UK businesses looking to scaleup and fulfil their potential.”
2024-07-03
