UKEF's support helping Maxflow gain access to capital through its General Export Facility (GEF) will see the business expand into new export markets.
Maxflow supplies Northern Ireland-made industrial pressure washers, generators, parts and pressure-washing accessories, and is aiming to reach new export markets.
Maxflow Power Products Limited is the first company in Northern Ireland that has been awarded UKEF-backed facility from Ulster Bank.
Maxflow, a Northern Ireland-based manufacturer of industrial pressure washers and power products, is accelerating its growth with a finance package issued by Ulster Bank and guaranteed by UK Export Finance (UKEF), the government's export credit agency. This partnership supports Maxflow to expand its operations, enter new export markets, and grow its customer base.
With over 25 years of industry experience, Maxflow's ability to grow as a business has been furthered by UKEF and Ulster Bank's financial support which also recently included a multi-million pound support package for a Management Buy Out (MBO).
This has enabled better management of cash flow-related challenges, often associated with scaling operations and meeting customer demand. With this support, Maxflow can maintain high stock levels, ensuring consistent availability for its customers and reinforcing its reputation as a reliable supplier in a competitive market.
With significant revenue coming from exports, entering new export markets presents exciting new opportunities for growth.
This is the first time that Ulster Bank and UKEF have worked in partnership to issue a trade loan facility for a Northern Ireland business. The loan facility was guaranteed through UKEF's General Export Facility (GEF) , a product which helps SME exporters to access more working capital and scale up their operations. Through the GEF scheme, SMEs accessed over £576 million in working capital loans in the last financial year.
Liz McCrory MBE, UKEF Export Finance Manager for Northern Ireland, added:
We are proud to support Maxflow as they build on their success. UKEF's collaboration with Ulster Bank in this working capital finance deal is a prime example of how our General Export Facility can boost the confidence of SMEs in Northern Ireland to achieve their growth ambitions and venture into new export markets.
Ryan Wylie, Managing Director of Maxflow, commented:
We couldn't be more excited about Maxflow's growth. Our commitment to exceptional customer service is at the heart of everything we do. We pride ourselves on being a reliable, go-to partner, ensuring our customers can always count on us to deliver exactly what they need, when they need it.
Expanding into new geographical markets is a transformative step for Maxflow, and the support from Ulster Bank and UK Export Finance has been crucial in helping us seize this opportunity. The ability to manage cash flow effectively while maintaining high stock levels has allowed us to meet the demands of this new market and position ourselves for sustained growth.
Maxflow's expansion also includes significant investment in infrastructure. A new factory is currently under construction, with phase one expected to be completed by 2025. This facility will consolidate operations, streamline logistics, and enhance efficiency, supporting Maxflow's long-term growth plans.
Maxflow is creating new job opportunities in Cookstown, Northern Ireland through investing in a new factory. With a team of 25 employees and ongoing expansion, the company remains dedicated to being a market leader in industrial power product solutions.
Leona McNicholl, Senior Relationship Manager at Ulster Bank, commented:
We're proud to support Maxflow as they take this exciting step to expand their operations into new export markets. This milestone highlights the importance of providing businesses with the right financial tools to achieve their growth ambitions. Ulster Bank remains committed to supporting Northern Ireland's businesses, helping them seize new opportunities and grow and this is very evident in the level of support provided to Maxflow in their growth plans through working capital facilities as well as supporting the recent MBO.
Maxflow's story showcases how strategic financial partnerships, infrastructure investments, and a focus on customer-centric operations can drive significant growth. As the company continues to expand, it remains committed to its vision of being a market leader in industrial power product solutions.
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