IndustryNews
EDB looks to double turnover following new funding line
E
lectrical Distributors (Birmingham) Ltd (EDB), the
national supplier of electrical products, has secured a £250,000 funding from Secure Trust Bank Commercial Finance. Led by the new Managing Director
David Henry, the firm has doubled in size in the last 12 months, employing five staff and is looking to double the turnover again in the coming year. Based in Birmingham, EDB distributes a wide range of electrical products to a diverse customer base across the UK. EDB has also recently become a member of buying group, AWEBB. The funding line provided by Secure
Trust Bank will be used to aid cashflow and manage the rapid growth of EDB. The business has set ambitious objectives for the next two years and recently added a new Branch Manager as part of the highly experienced management team. David Henry, Managing Director at
EDB, said: “To date, our company has been entirely self-financed, but with the demand for our products soaring, we felt the time was right to look for additional financial support. “Secure Trust Bank is a good match for
a growing business, as the personal service and flexibility offered enables you to plan for the future in the knowledge that the support system will always be available.” Steve Goulden, regional sales director
for the Midlands at Secure Trust Bank Commercial Finance, said: “EDB has demonstrated its strong performance since the arrival of David Henry, with turnover doubling last year. With a prolonged period of growth targeted, the business required a financial partner willing to offer a flexible package to accommodate any eventuality. “The business now has an
experienced management team, and is in the ideal position to take advantage of a buoyant marketplace.”
Electricbase sales rep steps into the ring for Cancer Research
E
lectricbase Sales Rep, Glenn Dixon,
has taken the fight against cancer literally, raising £300 for Cancer Research UK in a White Collar Boxing match. Glenn stepped into the
ring at the Plymouth Guildhall with Mark Dilloway, a delivery driver from Plymouth, for three two-minute rounds under amateur boxing rules. Glen won unanimously, coming out on top in all three rounds. To prepare for the match Glenn took part in a gruelling
eight-week training regime, including two sessions in the gym every week. He has been boxing since he was 10 years old. Electricbase is part of Grafton Merchanting GB, which
recently announced Cancer Research UK as its charity of choice. Colleagues are undertaking fundraising activities throughout the year.
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