Bibby Financial Services

Aberdeen-based electrical manufacturer secures £1m facility from Bibby Financial Services

Bibby Financial Services (BFS) has provided a £1m funding facility to an Aberdeen-based electrical design and manufacturing company.

Power Jacks — whose clients include British Airways, BT and Nestlé — will use the funding to operate a more efficient cash flow system as well as freeing up additional working capital.

“Power Jacks is an established business that boasts an exciting portfolio of clients and we are delighted to add the business to our growing list of Aberdeen-based partners,” said Ronnie Stokes, corporate manager at BFS.

“The management team at Power Jacks [has] been extremely co-operative throughout the process, allowing us to build up an effective working relationship and craft a funding facility designed to help the business boost cash flow and achieve growth.”

Craig McGill, finance director at Power Jacks, added: “BFS immediately demonstrated an impressive knowledge of our operations and the needs of the business.

“The finance facility allows us to consolidate our position as a partner of choice for customers internationally.”

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