Lombard funding ‘hot-off-the-press’ for quality Derbyshire printing firm
- Stirland Paterson boosts efficiency and customer service with £½m Lombard asset funding
- Range of funding facilities offered by Lombard delivers flexible deal for the customer
- Stirland Paterson reaps benefits of asset finance to stay industry-competitive
Stirland Paterson is a design, print and mailing company based in Ilkeston, Derbyshire. With a 24 hour production cycle and ‘one stop shop’ facilities, the company’s ethos is centred on providing the highest standard of professional service to its customers. Stirland Paterson continues to invest in state-of-the-art equipment and technology across all sectors of the business to remain competitive in the commercial print market place. “I contacted a number of finance providers to assess funding options but was most impressed by Lombard and the range of facilities that were presented to us in an effort to meet our business’ specific needs.” Phil Wilson / Stirland Paterson stirlandpaterson
In 2009, Stirland Paterson’s Finance Director Phil Wilson was working to a 12 month plan to upgrade the company’s five colour printing press to a 12 colour Heidelberg machine. However, when the call came in from an auction house with a high specification printing press at a very competitive price, Wilson knew he had to move quickly to secure the acquisition. Wilson explains, “We assessed the benefits of this type of machine and concluded it would increase our capacity, enhance our quality and improve turnaround times. So we were very keen to make the purchase, particularly at such a reasonable cost. I contacted a number of finance providers to assess funding options but was most impressed by Lombard and the range of facilities that were presented to us in an effort to meet our business’ specific needs.”
Lombard’s Senior Relationship Manager Jane McIntyre continues, “Phil first contacted us to discuss a fixed rate hire purchase solution but was very pleasantly surprised when I explained the option of hire purchase on a variable rate of interest. The flexibility of paying off the debt early without incurring any penalties was very appealing.”
“Once I had discussed the two options in detail with Phil, he understood the benefits of the variable rate product and agreed to the deal. We then worked very quickly with our banking partners to compile the data required to secure the £½m funding and ensure delivery of the printing press within the two week deadline.”
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