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A world-renowned manufacturer of fine English bone china is to invest in the business after it received the backing of asset-based lender Venture Structured Finance.

The Royal Crown Derby Porcelain Company, which is the UK’s only bone china manufacturer to produce all its products domestically without outsourcing, has agreed a funding line worth some £4.3 million.

“Royal Crown Derby has an enviable reputation and continues to make distinctive products to the highest standards,” said Cliff Meek, regional director of Venture Structured Finance. “As a result, we are delighted to provide a funding facility comprising invoice discounting and loans against stock and property.”

The company's finance director, Stuart Hughes, explained why the company chose Venture Structured Finance to fund its growth. “Asset-based lending is a new avenue for us, and we felt the team at Venture Structured Finance had an excellent understanding of our business and what we are trying to achieve.

“The new funding will give us flexibility to react more readily to demands in the market which will, in turn, strengthen the business,” Hughes said.

Royal Crown Derby was supported by its long-standing adviser Eversheds LLP. Its team was led by banking partner Pat Johnstone, who said the deal was completed on time despite a challenging timetable.

“Eversheds is delighted to have been involved in this important opportunity for Royal Crown Derby and wishes the company every success in the future,” Johnstone said.

Royal Crown Derby has been producing traditional English bone China for more than 250 years and has been operating from its factory in Derby since 1878. The private company, which was bought by its current shareholders in 2000, employs more than 240 people.

Venture Structured Finance is part of Venture Finance and helps organisations manage cash flow, purchase new machinery and stock, stage management buy-outs or buy-ins, merge with or acquire new companies or expand their operations.

Its services include invoice discounting, which releases funds back into a business, combined with cash flow loans, stock finance, property finance as well as plant and machinery finance.

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