ABN AMRO Commercial Finance has delivered a £7.3m finance facility to Coventry Chemicals, trading as Mirius™ - Global Hygiene Solutions.
Established in 1963, Mirius manufacture and supply cleaning liquids, powders and tablets for professional, retail and healthcare sectors. Having continually invested in the business through multiple expansion projects, they offer a broad range of products and are committed to quality and customer service to their customers throughout the UK, Europe, Asia as well as Latin and South America. Mirius’s provision also includes award winning, sustainable products and packaging that can be up to 100% recycled and converted into usable products, contributing to a circular economy.
With year on year growth in both established products and markets together with newly developed healthcare products and professional cleaning ranges, Mirius required an increase in funding to support company developments. With three incumbent lenders, the business was looking to refinance, consolidating their lending to a single provider.
Following considerable consultation, ABN AMRO was selected as the preferred lender, offering a combined funding package to support business objectives and improved affordability. The solution provided is comprised of a Property Term Loan and increased Receivables Funding line. The additional provision of an Enterprise Finance Guarantee Term Loan boosts funding headroom and maintains continued growth both with existing customers and newly developed markets.
Paul Marsh, Financial Director at Mirius said: “ABN AMRO’s pragmatic and professional approach meant that the transfer was swift and on boarding process seamless. The funding provided, including the additional headroom will enable our business to further invest in our operations and new product lines.”
Guy Walsh, regional Business Director at ABN AMRO said: “We were pleased to work together with Mirius to deliver a flexible and consolidated funding solution that will meet their strategic growth and increase the company’s footprint in the market.”