LONG-TERM RELATIONSHIPS
Our reputation has been built through the client relationships we have developed. Here are some recent insights from our clients by way of introduction to how we like to do business.
“We started working with PNC in 2019. They understood our business very well from an early stage, delivering a facility that fits our business perfectly. PNC are straight forward to do business with and very transparent. It is testament to the relationship that we have built that we have subsequently extended both the scope and time frame of the facility from the initial deal.
“Our business is seasonal, and we pride ourselves on paying our farmers promptly and to agreed terms. The facility allows us the flexibility to hold stock and take maximum advantage of both domestic and international market opportunities when the prices are right. PNC’s understanding and support of us means we can simply get on with business, which we have done with great success.”
Stephen Forsythe, Group Finance Director, Foyle Food Group
Northern Ireland – headquartered Foyle Food Group (Foyle) is a beef processing business which has traded for more than 40 years. The Group operates from 8 state-of-the-art facilities across the UK and Ireland, employing 1,300 people.
“When Karium came to exist following the acquisition of Godrej Consumer Products (UK) by JZ International, both PNC and Asset-Based Lending (ABL) were not only new to the business, but also to me as Finance Director. The facility fuelled the deal and also provided working capital funding going forward. The team at PNC were extremely supportive in helping us make the transition to the new facility, and it soon became business as usual.
“PNC’s flexibility and understanding of our business has been invaluable over the course of the last few years. This came to the fore during the Covid pandemic, where we were able to flex our borrowing requirements to chart our way forward through those uncertain times. Karium is enjoying exceptional growth and will continue to do so, both organically and through acquisitions. Working with PNC helps us enjoy the clarity and confidence to exploit our business potential.”
Ben Hammersley, Finance Director, Karium Ltd
Karium is a unique portfolio of well-known Personal Care brands. These include PRO:VOKE, an expert hair colour enhancement and care brand; Soft & Gentle, a fragrance-led anti-perspirant deodorant brand; and Cuticura, an antibacterial hand hygiene brand.
“Asset-Based Lending (ABL) and PNC have both been key elements of our business for a long time, and for good reason. As a high-growth business, ABL delivers to us the visibility to look ahead with complete confidence. We have the ability to hold the right level of inventory to enable us to be highly responsive to our customers’ needs, which creates a strong competitive advantage.
“PNC has consistently provided excellent communication and support throughout our journey together. They understand us and have complete confidence in our model. All too often, finance providers can be a straightjacket for a business. PNC is the complete opposite. We have a true partnership.”
John Sexton, Managing Director, Lovering Foods
Lovering Foods is an award-winning, independently owned, leading supplier of high-quality ambient food products to UK retail, foodservice and manufacturing customers.
