Ceandess is a manufacturer and supplier of filler caps, necks and filters for the automotive industry. Established in 1924, this family run business has long been a part of the Midlands metal engineering industry with the provision of pressings, welded fabrications, laser cuttings and powder coating capabilities.
In 2008, the company took a fall in turnover and was seeing unsustainable overheads. The late Managing Director, Clive Davies, facilitated a management buyout, purchasing the existing assets and set about building the company back up again. Fast forward to 2021, Clive’s son, Edward, has embraced his father’s legacy and continues to mould the business. To achieve this and support further growth, the provision of a flexible funding solution was required.
As a longstanding client of ABN AMRO Commercial Finance, Ceandess have benefited from the flexibility of an Invoice Finance solution. An 85% prepayment on invoices issued does not only bridge the gap between incoming payments, but also acts as a buffer to support the ongoing working capital requirements of the business.
Through the Client Portal - a user friendly online platform – Edward and his team are able to easily upload new invoices and have clear visibility of funds in/out of the business. The expertise of a reliable relationship and asset manager ensures that the team understand how the Portal works and provides a single point of contact to support their funding requirements.
Edward highlights how “unbelievably helpful our Relationship Manager has been, taking the time and effort to understand our business requirements and guide us through the funding options available to us. I very much appreciate the support given and look forward to continuing our partnership with ABN AMRO.”
The funding solution provides peace of mind and will enable a launchpad to support future growth, starting with the purchase of new transport vehicles and upgrading some of the facilities on site.
Moving forward it will also provide Ceandess the financial security needed to support future automation which will speed up the manufacturing process and enhance efficiencies. This includes the implementation of machine monitoring scanners to aid more effective maintenance routines; as well as the capacity to expand their product offering with a bespoke CAD solution which will enable clients to personalise their orders.