Leading provider of invoice discounting and asset-based lending Lloyds TSB Commercial Finance has recently backed Stokes Forgings Limited in the acquisition of Dudley Die Forgings Limited. Stokes Forgings Limited is one of the largest suppliers of forgings to the UK automotive industry and is based on the outskirts of Walsall in the West Midlands.
Stokes Forgings approached Simon Woodcock, Senior Regional Manager of Lloyds TSB Commercial Finance in Birmingham, to help finance the acquisition and provide the requisite working capital to fund its strong growth plans.
Ian Young, Managing Director said: “The acquisition of Dudley Die Forgings Limited will ensure we grow organically and enable us to invest in new products and new processes. We can expand our business and add even greater value to our customers both existing and new. ”
