Engineering Business

Established over 50 years ago in 1969, Wallace McDowall has grown to become one of the UK’s leading sub-contract engineering companies. Following HLD’s successful acquisition of Wallace, the Scottish sheet metal fabricator’s order book has increased rapidly.

To support this growth, HLD required refinancing of the company’s existing banking facility and further funding support for growth, particularly in the face of macroeconomic headwinds. They required facilities of £3.25 million which included £500k for growth investment. 

They sought out support from Goodman Corporate to help with this requirement. The client already had a long-established relationship with Godman Corporate of more than 10 years.

Within 8 weeks, our client had received their funding. This proved to be yet another example of our dedication to customer service. We pride ourselves on delivering expert guidance and an outstanding customer experience, along with transparency and an excellent range of choice which considers all of our clients’ requirements.

By linking Wallace McDowall to IGF, we were also able to secure the extra £500k for growth capital. This will allow the client to continue their excellent standard of service and thrive for many more years to come!

HLD Portfolio Group Financial Controller, Stephen Penrice said: “We have a long-established relationship with Goodman Corporate, and we trusted them, when they directed us toward IGF, as we had not done business with them previously. Goodman Corporate were spot on in terms of their assessment of IGF. It’s a very strong ABL financier with an excellent focus on customer service throughout the process – both pre and post funding. Dealing with them has allowed Wallace to continue on its current strategic path. We have gone on to transact again with IGF, which is a direct consequence of this facility. We would have no hesitation in highly recommending them to others. The same should of course be said about our partners, Goodmans.”

Paul Edmeades, ABL Director at IGF commented “We were delighted to work with Goodman Corporate Finance and HLD Group to provide the funding required to support the on-going growth aspirations of Wallace McDowall. Goodman not only introduced the opportunity to IGF but provided professional support throughout the process, which enabled us to deliver in line with the customers’ expectations. We enjoy working with the team at Goodman and look forward to the next deal.”