A Charnock Richard-based company’s expansion plans have been given a major boost after securing a new funding package.
Festive Lights Ltd is one of the UK’s leading lighting companies and they’ve joined forced with HSBC’s Commercial Banking team in the North West.
The funding arrangement was led by Senior Commercial Manager Chris Mackenzie and marks the start of a new relationship between the company and HSBC.
Festive Lights was founded in 1999 and now employs more than 20 people, supplying customers across the UK and internationally with retail lighting and bespoke products for use in homes, offices and outdoors.
The new finance package, a combination of working capital and trade facilities, will play a major role in the company’s plans to expand sales of its new ‘Dribox’ product range.
Developed by Festive Lights’ own designers, ‘Dribox’ is an innovative portable weatherproof connection box for outdoor use that the company plans to market to the US, European and Asian markets.
David Beaty, HSBC’s Regional Commercial Director for the North West, said: “Over the past decade Festive Lights has established itself as a major player in the lighting market and is now looking to translate its domestic success into increased international sales.
“The company has exciting plans for growth that we are delighted to be supporting as they focus on maximising the opportunities from their own patented technology.”
Mark Higginson, Managing Director of Festive Lights, said: “Our ambitious plan for international expansion means we need a finance partner who can offer a global perspective while also retaining a local relationship in Lancashire.
“We are looking forward to accelerating our growth with this new funding from HSBC.”