Powering on

Generating success

Hull-based power generator manufacturer strengthens business

Established in 1981 as Tempest Diesels Ltd and is now one Yorkshire’s fastest growing privately owned firms,  

Allam Marine Ltd's diesel generators are used as back up supplies in large public and private buildings, and manufacturing facilities in UK and Western Europe. It's products are often used as a mains supply in nations with unreliable or non-existent power networks.

Overcoming the hurdles

Key to success in emerging markets was a bespoke trade finance solution applicable to the emerging markets in which the business operates Allam Marine decided it would be best to switch banking partners and secure a funding package which would also allow them to free up cash flow to support growth.

Making the switch

Allam secured a £45m refinancing deal and moved all the business’s banking operations to Lloyds Bank Commercial Banking’s North, East and West Yorkshire team.

The agreement sees an additional £15m of support provided to the Hull-based exporter than was previously available under its former relationship.

This new funding arrangement provides us with the greater degree of flexibility and support that we need to help sustain our growth.

Maintaining manufacture

As part of the deal, which includes a revolving credit facility, Lloyds Bank’s Yorkshire-based trade team has structured a specialist trade finance funding package for the business, as well as making use of the government backed Funding for Lending Scheme.

Manufacturing is a major driving force behind the region’s economic growth efforts and we can provide packages that are specifically tailored to help continue the areas success in this field.

Stephen Harris, Area Director, North, East and West Yorkshire, Mid Markets

Maintaining manufacture