SME funder, Bibby Financial Services (BFS) has provided a £1.1 million funding line to LWS Interior Solutions and South West Kitchens, part of the LWS Group.
Based in Exeter and established in early 2017, LWS Interior Solutions was born out of a former business set up by Managing Director Stuart Shaw in 2000. The company offers a range of interior design solutions for the home, including laminate kitchen work surfaces, solid wood kitchen work tops, sinks, taps and splashbacks. While South West Kitchens, founded in 2017, produce and install high quality custom made kitchens.
The group employees 45 staff locally across both Devon based companies. With an established customer base of trade businesses across the South West of England, the business also has contracts extending to the Midlands and London.
Earlier this year in the midst of the Covid-19 pandemic, LWS moved away from its high street funder, seeking an alternative partner to support its financing needs. Stuart and the team were introduced to BFS by their financial consultant, Nick Cross, Prydis Consulting Ltd.
Working closely with LWS, BFS’s corporate team worked quickly to structure a £1.1m funding facility that will provide the business with the flexibility they need to help grow their customer base and support their existing clients, throughout the pandemic and beyond.
Stuart Shaw, Managing Director, LWS Interior Solutions Ltd, commented: “Flexibility was paramount in helping us make the switch and BFS came out on top with the level of support we needed. It’s important that we have a strong working relationship with our funder, and we built that very quickly with the team.
“Covid-19 presents a difficult time for businesses, but by partnering with BFS we can seek out new opportunities while looking after our existing customers. We’ve received a fantastic service – they’ve been very supportive and are always available to help.”
Nick Cross, Prydis Consulting Ltd, added: “As a well-established and respected business in the region, it was a pleasure to connect LWS with the corporate team at BFS.
“Despite the current climate we were able to work with BFS to put together a facility which allowed LWS to continue to grow and support their customers during what is a challenging time. I look forward to continuing to working with BFS to help more businesses with their financing needs.”
Russell Stritch, Corporate Manager, Bibby Financial Services, said: “BFS is committed to supporting ambitious SMEs like LWS, and this partnership is testament to that.
“We’re delighted to support this well-established South West business, having built a great relationship with Stuart and the team very early on. With a solid understanding of their needs we were able to move swiftly to structure a facility that will support the business throughout the pandemic and into the future.”