Ebac, a leading manufacturer based in the UK, has secured a £4m asset-based lending facility from Cynergy Business Finance (CBF) to support its expansion and sustainability initiatives. Ebac has a rich heritage of over 50 years and is renowned for its innovation, quality, and community support. The company has a deep association with County Durham and is currently the sole dehumidifier and washing machine production plant in the UK.
Ebac has a visionary approach that extends to the introduction of new heat pumps. The company produced its first heat pumps more than 30 years ago, when the feasibility was not what it is today with Net Zero targets. Its unit comes with a unique feature that reduces running costs while keeping the purchase price reasonable, making it highly attractive. In addition, Ebac has introduced a new Dehumidification with Heat Recovery (DHR) system, which is placed in lofts to tackle dampness and condensation through advanced artificial intelligence, minimizing energy consumption by running only when required.
To support the transformative journey, Ebac was introduced to CBF by its financial advisor, TSF. Ebac and TSF worked with the CBF team to secure a £4m flexible facility that complements its current structure and supports its strategic growth plans. The facility comprises a £2.5m invoice discounting facility and £1.5m inventory financing. This new financial injection will play a vital role in the company’s expansion of its new product ranges, with a primary focus on the development and introduction of its cutting-edge heat pump offering.
John Elliott, chairman at Ebac Ltd, expressed his delight that Cynergy Business Finance has recognized the company’s new products’ vast potential. He stated that both the heat pumps and DHR system represent the future for the Ebac business, and the company’s production and financial planning are based around bringing them to the market quickly in the second half of 2023.
Dan Burton, executive director at Cynergy Business Finance, expressed his excitement at partnering with Ebac to support them on their growth journey. He praised the company’s longstanding reputation and dedication to innovation, which stands Ebac in good stead in this next stage, particularly given the team’s focus on sustainable practices and innovations.
In conclusion, Ebac has secured the much-needed financial backing to achieve its strategic growth plans of expanding new product ranges and sustainability initiatives. This move will cement its position as a top-notch company in the UK and beyond, powered by cutting-edge technology and an unwavering commitment to innovation.
