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Leumi ABL helps put Wow! Stuff in top gear for growth
Leumi ABL has completed a refinancing deal of a very fast growing and successful Wolverhampton-based business, China Industries Limited, which trades as WOW! Stuff.
Wow! Stuff invents toys and gifts and markets them under licensed brands that include The London's Science Museum, BBC's TopGear and the iconic Wallace & Gromit brand. Each of Wow!'s brands are supplied to major high street retailers including Debenhams, John Lewis and WHSmith and are brought to life in these stores using Wow!'s unique combination of fully trained 'Demonstration Artists' and video screens.
Wow!’s sales have grown over 100% year on year for three consecutive years and in July this year they received the "Business of the Year" Award in the regional finals of the National Business Awards.
Richard North, Founder and Managing Director, comments: "We were introduced to Leumi ABL by SpringBoard Corporate Finance in Birmingham. We have enjoyed fabulous growth, but with new marketing initiatives come new costs. We needed to free up cash so we could invest in our new Demonstration Academy, the first of its kind in the UK. Deploying our trained Demonstration Artists in prestigious retailers such as Harrods during 2008 had proven that bringing great brands to life in a retail store was a massive differentiator for toy and gift sellers when compared to internet businesses that often sold on price alone. We saw exceptional sales increases and we knew we needed to roll this out this Christmas or miss out on several contracts.”
“Our current banking partners suffered badly in the credit crunch and their ability to provide services that they could have done just several months before had dried up. Equally new banks that had been courting us pre-credit crunch fell away as they had more pressing things to deal with! Leumi ABL stayed the course and delivered on their promise of a £3m invoice finance deal backed by the shareholders’ combined £2m net assets and banking facility. Jason and the Leumi ABL team were extremely efficient and made things happen very quickly. This deal secures our growth as we drive towards our goal of £75m in sales by 2012."
Jason Holland, Leumi ABL Midlands Regional Sales Director, adds: “This is a very seasonal business which has enjoyed phenomenal growth. We look forward to supporting the huge creative talent at Wow! Stuff as they continue to secure further major brand licences.”
Leumi ABL has completed a refinancing deal of a very fast growing and successful Wolverhampton-based business, China Industries Limited, which trades as WOW! Stuff.
Wow! Stuff invents toys and gifts and markets them under licensed brands that include The London's Science Museum, BBC's TopGear and the iconic Wallace & Gromit brand. Each of Wow!'s brands are supplied to major high street retailers including Debenhams, John Lewis and WHSmith and are brought to life in these stores using Wow!'s unique combination of fully trained 'Demonstration Artists' and video screens.
Wow!’s sales have grown over 100% year on year for three consecutive years and in July this year they received the "Business of the Year" Award in the regional finals of the National Business Awards.
Richard North, Founder and Managing Director, comments: "We were introduced to Leumi ABL by SpringBoard Corporate Finance in Birmingham. We have enjoyed fabulous growth, but with new marketing initiatives come new costs. We needed to free up cash so we could invest in our new Demonstration Academy, the first of its kind in the UK. Deploying our trained Demonstration Artists in prestigious retailers such as Harrods during 2008 had proven that bringing great brands to life in a retail store was a massive differentiator for toy and gift sellers when compared to internet businesses that often sold on price alone. We saw exceptional sales increases and we knew we needed to roll this out this Christmas or miss out on several contracts.”
“Our current banking partners suffered badly in the credit crunch and their ability to provide services that they could have done just several months before had dried up. Equally new banks that had been courting us pre-credit crunch fell away as they had more pressing things to deal with! Leumi ABL stayed the course and delivered on their promise of a £3m invoice finance deal backed by the shareholders’ combined £2m net assets and banking facility. Jason and the Leumi ABL team were extremely efficient and made things happen very quickly. This deal secures our growth as we drive towards our goal of £75m in sales by 2012."
Jason Holland, Leumi ABL Midlands Regional Sales Director, adds: “This is a very seasonal business which has enjoyed phenomenal growth. We look forward to supporting the huge creative talent at Wow! Stuff as they continue to secure further major brand licences.”
