JAMES Cropper plc has completed a £25 million club-bank financing deal with NatWest and HSBC UK backed by an 80% guarantee by UK Export Finance (UKEF) to support its sustainable growth goals.
The group business consists of three distinct operating divisions with a combined turnover of over £100 million sales, employing over 600 people across four global manufacturing locations. The firm manufactures a range of products from coloured and textured papers through to sustainable moulded packaging and specialist materials that supports the advancement of green energy.
Established in 1845, James Cropper is a sixth generational family business which was founded at the same Burneside Mill site it still operates from today.
The funding will be used to support the purchase of new machinery, building expansion, decarbonisation plans, and improvement to upcycling processes.
Isabelle Maddock, chief finance officer at James Cropper, said, “Our commitment is to create pioneering materials and sustainable solutions in support of the markets we serve and in taking direct responsibility for progressing our operations via all our ESG priorities. The funding will allow us to invest in our business while also delivering on our commitments to our customers.”
John Howard, relationship director at NatWest, supported the deal and said, “We are pleased to support James Cropper with funding which will enable the business to continue to expand, innovate and develop new practices to support their sustainable goals. The business continues to do incredible work across the community, and we look forward to working with the management team in the future.”
Iain Schofield, relationship director at HSBC UK supported the deal and commented, “James Cropper is an innovative manufacturing business with a clear focus on community and sustainability. I am pleased that we have been able to provide additional commitment and funding for the long-term growth aspirations of the business, which complements our international support for the group.”
