The deal will support the wireless connectivity specialist as it continues to focus on expansion and increasing market share in a rapidly growing marketplace.
Banbury, Oxon-based MSDist is a wholesale distributor of niche wireless network IT equipment and associated products. The firm also offers certified training courses, technical support, VoIP and Wi-Fi CCTV surveillance systems.
The asset-based lending facility will support working capital, helping the firm to meet the increased cash flow demands generated by its growth.
Robin Young, chief finance officer at MSDist, said, “The ABL facility provided by Royal Bank of Scotland will enable us to continue to maximize on the opportunities this growing market has to offer. It will allow us to maintain a real focus on growth, suppling larger volumes and a wider customer base with products that are readily in demand.”
Richard Preston, corporate business development director of the Royal Bank of Scotland, said, “The management team at MS have an impressive commercial aptitude and have achieved significant growth by maximizing on the benefits presented by the burgeoning marketplace. The ABL facility we have put in place has been designed to support cash flow, enabling the company to continue to pursue its growth strategy and achieve higher revenues.”