An Essex-based water treatment company has announced its growth and exporting plans with the support of a £225,000 working capital facility from Lloyds Bank.
International Water Solutions Ltd is one of Europe’s leading manufacturers and suppliers of water treatment products and systems, but also maintains a strong presence in the Middle East and Asia. The business focuses on developing niche and environmentally friendly disinfection products for a diverse range of sectors, including drinking water and waste water treatment, livestock production, agriculture, and oil and gas.
The funding from Lloyds Bank will support the business as it looks to expand into new international markets including Romania and Serbia, and target more government contracts in the drinking and waste water sectors as well as food and livestock industries.
The company’s products have been in development for over ten years and its shares are about to be listed on the New York NASDAQ Stock Exchange. Based on Bates Industrial Estate in Romford, International Water Solutions Ltd employs 15 members of staff and is expecting a substantial growth in turnover and profitability in the coming year.
Alan Davis, director at International Water Solutions Ltd, said: “We’ve seen a strong increase in sales since launching our new products this year. The funding package from Lloyds Bank will provide financial support as the business accelerates and free up more capital for further growth as we target new markets.
“Due to the worldwide shortage of water, clean water solutions have become increasingly more important in a range of different sectors, and our products will offer a variety of services including helping to protect livestock from diseases, as well as making drinking water safe in an environmentally friendly way. The team from Lloyds Bank fully understands what we are trying to achieve and we are very much looking forward to working with them in the future.”
Andrew Millard, regional manager at Lloyds Bank Commercial Finance, said: “A shortage of water has been cited as being the number one global risk expected to impact society. There’s an increased demand for clean water solutions, and now’s more important than ever for International Water Solutions Ltd to expand its business.
“We’ve enjoyed a continued relationship with the team at International Water Solutions Ltd, and our support underlines our commitment to helping small to medium sized businesses reach their growth potential, and since 2011, we have grown our net lending to SMEs by 28%.”