Finance deal fuels growth at Rock Oil
1 min read
Warrington-based Rock Oil, a manufacturer of high-performance lubricants, has secured a £1.6m finance package from Barclays Corporate which, says the manufacturer, will give a much-needed boost to its expansion plans.
Rock Oil has been in business for 80 years and is best known for its involvement in motor sport lubrication, although its other markets include agriculture, automotive, food safe, industrial and, marine.
Rock Oil recently turned to Barclays Corporate for help with its growth and expansion plans. Chairman Charles Hewitt said: "Barclays Corporate share our massive enthusiasm for the business and are particularly supportive of our expansion plans, which recently received a huge boost by the signing of a very large supply agreement contract with a multi-national customer ensuring a cornerstone for the business turnover in the years to come."
Neil Brisco, relationship director at Barclays Corporate, said: "It really is a pleasure to see a local company go from strength to strength and buck the current market trend. Our sector focus and thorough understanding of the industry and market has enabled us to structure a finance solution that fits well with Rock Oil's strategic plans."
