James Cropper builds on sustainable success with new funding backed by the UK government
James Cropper has completed on a £25 million club-bank financing deal with NatWest and HSBC UK backed by an 80% guarantee by UK Export Finance (UKEF) to support our strategic growth plans and further support our ESG commitments.
Our commitment is to create pioneering materials and sustainable solutions in support of the markets we serve and in taking direct responsibility for progressing our operations via all our ESG priorities. The funding will allow us to invest in our business while also delivering on our commitments to our customers.Isabelle Maddock, Chief Finance Officer at James Cropper, said:
Our company’s purpose, Pioneering Materials to Safeguard our Future, provides the guiding principle for our growth strategies across each business. Operating in niche and growth areas, our focus will be on accelerating sales that support the advancement of clean energy, growing share in the luxury packaging sector and delivering sustainable, highly designed, point of sale outer packaging.
Through a history of innovation and a sustainability-led ethos, the business has transitioned from our paper mill origins, using expertise and specialism in fibre technology, to transform into a global speciality materials provider.
The funding, which was supported by UK Export Finance and coordinated by NatWest, will be used to support our strategic innovation, growth capex and other improvements including new machinery, building expansion, decarbonisation plans and improvement to upcycling processes.
We are pleased to support James Cropper with funding which will enable the business to continue to expand, innovate and develop new practices to support their sustainable goals. The business continues to do incredible work across the community, and we look forward to working with the management team in the future.John Howard, Relationship Director at NatWest, supported the deal and said:
The UK has a long history of being at the forefront of the science and technology revolution - inventing some of the world's best technology, which we still use to this day. At James Cropper we combine over 177 years of experience with world leading innovation and pioneering manufacturing technology, which together can help to safeguard the future of our planet.
James Cropper is an innovative manufacturing business with a clear focus on community and sustainability. I am pleased that we have been able to provide additional commitment and funding for the long-term growth aspirations of the business, which complements our international support for the group.Iain Schofield, Relationship Director at HSBC UK supported the deal and said:
