Troy UK is set for strong growth plans following Santander funding
Troy UK
Established in 1986, Exeter headquartered Troy UK provides discounts to its members on a wide range of products from more than 400 suppliers. Offering products from cutting and precision engineering tools, personal protective equipment, hygiene and janitorial products to repair and overhaul equipment and vendor managed inventory services. Members buy tools and products, benefiting from its collective buying power, enabling them to compete with multi-national tool retailers and in turn, sell them to their customers.
Unlike traditional buying groups, Troy UK is owned by shareholders, which means it is run as a profitable entity. This enables them to adopt an agile, responsive business model that bypasses the complex committee processes present in other buying groups.
We have banked transactionally with Santander for many years and established a brilliant relationship. When there was an opportunity to move our invoice finance funding, my first port of call was Santander because the team has inspired such confidence, and have the resources, best practice and expertise to support our strategy to scale the business.
CEO, Troy UK
Thanks to an existing relationship, Troy UK reached out to Santander for an invoice finance facility to support their ambitious organic growth plans.
The funding will support Troy UK's five year plan to grow (turnover) by a further £200m from the current level of £300m, further accelerating the growth seen in the last decade.
Lending is subject to status
Thanks to its many years of experience and strong focus on customer service, our long-time client, Troy UK, has done a brilliant job of growing solidly over the past year despite the challenges posed by the pandemic. We’re delighted to provide it with this latest funding package which complements the day-to-day banking support, trade finance, property loans and foreign exchange services we have provided to them over the past decade.
Relationship Director, Santander
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