Secure Trust Bank’s 2023: Money, Deals, and a Dash of Manchester
Secure Trust Bank Commercial Finance (STB CF) knocked 214.8 million pounds into the economy across ten deals this year. That’s the kind of punch‑line that makes a banker smile.
Business Beat: Slow Start, Strong Finish
Like a sluggish football match that turns into a semi‑final, the first half of 2023 saw a lag. Lenders were stuck in long‑lasting paperwork jams. But the second half? A flurry of activity: eight deals, and the total deal value jumped 36.8 % higher than 2022’s £157 m.
Partnering with Private Equity
- Seven of the deals involved STB CF teaming up with private equity to back acquisitions.
- This blend of Asset‑Based Lending (ABL) and PE gave businesses both flexibility and a knowledge boost.
Biggest Deal of the Year
The headline‑grabbing, multi‑million‑pound loan helped private equity firm Chiltern Capital acquire Bat Cables, one of Europe’s top electrical cable distributors.
Helping High‑Street Heroes
STB CF also financed a smart club of retail staples: No Ordinary Designer Label Ltd (NODL) (Ted Baker’s store owner) and Ann Summers. They’re the kind of businesses that keep the consumer buzz alive.
New Office, New Ambitions
2023 marked a 10‑year lease at 44 Peter Street, Manchester. The firm already had a Manchester base since 2014, and this new office will keep their support flowing across the North West and beyond.
Building the Team
With a pipeline of ventures lighting up 2024, STB CF hired Will Duxbury as Portfolio and Structuring Director, ensuring the squad stays sharp.
Word from the Director
Sean Powell, national sales director says:
“It’s another solid year and I’m thrilled with what we’ve achieved. Even with a sluggish start and tough economic vibes that left many businesses struggling, we pulled through in the last months. Seeing so many deals paired with private equity shows ABL and PE can really play together to give businesses the flexibility they need. We expect the market to keep stabilising in 2024, and we’re ready to help ambitious teams and investors unlock growth across the economy.”
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