Food equipment distributors receive £500k in new funding

SME credit specialist, Caple has announced it has provided wholesale distributors of food equipment, Sephra with a £500,000 five-year unsecured loan.

Sephra has used the loan to purchase the intellectual property of its branded products, previously held by a US company, and expand into new markets. As a result, Sephra expects to hire a further 10 people and more than double its turnover to £10m over the next three-to-four years.

Dominic Buch, co-founder and managing partner of Caple, said: “Successful SMEs such as Sephra need funding to reach their full potential. The flexible nature of the loans we offer access to helps businesses like Sephra achieve their goals without the need for personal guarantees.

“By working alongside Sephra’s bank, we have supported a blend of financing that delivers stable and long-term funding that enables it to implement its ambitious growth plan.”

David Archer, managing director of Sephra, said: “We wanted to move quickly, secure the IP rights to our products and to press ahead with our growth plans. The Caple team understood our business and responded by completing the deal in record time.

“We are now able to drive innovation and expand into 20 to 30 new markets across Asia, Australasia, Central and South America, providing huge growth potential. By removing the need to pay royalties, we’re already seeing a positive impact on the bottom line.”