Hill & Smith Holdings PLC, a leading supplier of galvanised
steel and other products to the infrastructure, transport and
construction sectors, has secured a £210 million finance
package backed by Yorkshire Bank Corporate & Structured
Finance.
The funds will replace the company's existing facilities which
are due to mature in 2012 and provide it with funding for further
expansion. Yorkshire Bank has provided £40m as part of a
'banking club'.
Based in Solihull, Hill & Smith operates in three key areas.
Its infrastructure division provides products such as crash
barriers, bridge parapets, lighting columns, car park systems,
barriers, fencing and pipe supports. It also offers a portfolio of
products to the construction industry, including industrial
flooring, roof walkways and railings, steel lintels and roofing
systems, while its galvanising arm coats steel products in zinc to
strengthen and protect them against corrosion.
The group employs 3,250 people in 59 locations worldwide
including 17 manufacturing plants in the UK, as well as plants in
France, US, Canada, Thailand and China, with plans a new facility
in India. It had sales of £374m in 2010.
The group has successfully integrated nine acquisitions since
2000, the most recent being that of The Paterson Group in March, a
company which manufactures pipe supports for the energy sector from
its four plants in North America.
The Yorkshire Bank team was led by Steve Drury, director with
Corporate & Structured Finance in Birmingham. He said: "Hill
& Smith is engaged in a successful programme of international
expansion which includes strategic acquisitions and setting up new
plants overseas. It is also keen to take advantage of new and
growing markets such as the need for flood prevention, solar
panels, improved road safety and anti-terrorism measures. This
funding package will satisfy its ongoing requirements and provide
it with additional resources to exploit these opportunities."
Mark Pegler, group finance director of Hill & Smith,
commented: "We are delighted to receive the financial support of
Yorkshire Bank as a party to our revolving credit facility. It is a
key component of our philosophy that we work with partners who show
a detailed understanding of our business. The team at Yorkshire
Bank demonstrate this admirably."