The TP Group secured a £6.6million asset-based lending (ABL) facility through Independent Growth Finance (IGF) to support the ongoing growth of the business.
This injection of working capital will support the business’s strategic and responsible growth, invest in delivery capability and provide greater resilience for clients and supply chain partners. The TP Group’s next chapter is backed not only by financial investment from IGF, but by strong relationships with repeat clients, industry accreditations and a growing order book.
The new facilities provided by IGF form the start of a new partnership to support the next phase of the business’s growth.
“This investment will strengthen our working capital position and financial agility, creating additional capacity in line with our business development strategy,” Michael Morley, chairman of The TP Group, said. “Partnering with specialty finance provider, IGF, ensures greater stability and increased capability, allowing us to support our clients through direct operational investment and enhanced supply chain resilience.”
Paul Edmeades, director at IGF, added, “All at IGF are delighted to be working with The TP Group and look forward to supporting the business as it continues to grow. Our time spent with Michael and his team to create and deliver a flexible funding package should allow for a successful long-term relationship.”
