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Done Deal: Weldfast UK
Seamless Strength
a portfolio company of
Newable Capital
£7,500,000
Revolving Line of Credit and Term Loan
Welding Supplies
Financing Event: Acquisition
PNC Deal Leader: Stuart Baty
The Company: Welding Leadership
Based in Stoke-on-Trent, Staffordshire, Weldfast UK (Weldfast) was founded in 2007 by twin brothers Steve and Nigel Nixon with the vision to offer the largest range of safe and proven welding related products. Today, Weldfast is one of the UK’s leading wholesalers of welding and cutting equipment.
The Deal: Renowned
Renowned for its excellent stock levels, Weldfast recently moved to new 60,000 sq ft premises, additionally creating one of Europe’s largest state-of-the-art gas testing facilities.
The Achievement: Seamless Strength
The acquisition by Newable Capital opens up an exciting new chapter for the company. With plans for organic and acquisitive growth, as well as international expansion, PNC facility delivers the ideal working capital partnership for Weldfast’s future strong growth.
Peter Barrand, Managing Director, Newable Capital, said: “PNC were highly responsive from the very outset of our discussions and set themselves apart by taking the time to really understand the business. Above and beyond a competitive offer, the quality of their team really shone through during the deal process.”
Great stock levels and a passion for service are key components of our competitive advantage. The PNC facility perfectly supports our model and growth trajectory. Furthermore, their team is very engaged and approachable, creating the ideal partnership for the exciting times ahead.
Steve Nixon | Director, Weldfast UK
Important Legal Disclosures & Information
Neither PNC Financial Services UK Ltd. nor PNC Bank Canada Branch provides legal, tax or accounting advice.
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