Aberdeen’s Power Jacks secures £1m funds facility

An Aberdeen-based electrical design and manufacturing company has secured a £1 million funding facility as it targets further international growth.

Established more than 30 years ago, Power Jacks designs and manufactures electrical tools for a range of operational processes. It has customers in more than 80 countries.

The funding facility agreed with Bibby Financialservices(bfs)willenable the business to operate “a more efficient cashflow system”. It will also free up additional working capital, making it easier for Power Jacks to develop opportunities in the aerospace, transport and metal production industries across Europe and Asia.

Finance director Craig Mcgill said: “As a business with the ambition to develop its overseas relationships, we wanted to partner with a funder that understood our aspirations and had international experience in the sector.”

Ronnie Stokes of BFS added: “The management team have been extremely co-operative throughout the process.”