Trifast, a company specializing in industrial fastenings, has secured a £120m finance deal that will facilitate the establishment of a national distribution center in the Midlands.

This new financing arrangement, spearheaded by HSBC UK, is designed to foster organic growth and expansion through acquisitions, while also supporting Trifast’s aspirations for export growth.

The funding, which is supported by UK Export Finance (UKEF), includes a £50m export development guarantee facility that enables a loan provided by HSBC UK, NatWest, and Citi. The deal also involved a renegotiation of Trifast’s existing revolving credit facility, resulting in a new three-year £70m facility shared among HSBC UK, NatWest, and Citi.

The funds will be allocated to various projects, including a significant investment in a new national distribution hub near Trifast’s Tipton innovation center. This hub will serve its UK subsidiary, TR Fastenings, and is expected to enhance operational efficiencies, customer collaboration, and provide 24/7 service. The 75,000 sq ft center will also allow TR to increase its working capital to support organic growth and the introduction of new product ranges. Additionally, the funding will enable investment in group functions and software development.