Aldermore Provides Invoice Funding Facility to Fluid Science
Aldermore Bank provided an invoice finance facility to Fluid Science, the specialist in water solutions. Founded in 2016 and headquartered in Knowsley near Liverpool, Fluid Science primarily supplies purified, deionized and demineralized water to dental practices, pharmaceutical manufacturers and testing laboratories.
In March 2020, with the start of the Covid-19 pandemic, Fluid Science wanted to diversify its activity and use its expertise to produce a hand sanitizer for local communities. While the company had the technology and the capacity to produce disinfectants, it lacked the cash flow to purchase the necessary raw materials and storage containers.
With the new funding facility in place, Fluid Science was able to purchase the necessary materials and start producing hand sanitizer and antiviral surface sanitizer. The company now supplies its products to public sector organizations, including many local councils, the NHS and the Ministry of Defense.
Tariq Bourdouane, Director of Business Development at Aldermore, said: “We are delighted to have been able to do everything to ensure that Fluid Science has the funding it needs in these difficult times. It was an exceptionally quick two-week deal under extraordinary circumstances.
Simon Taylor, Managing Director of Fluid Science, said: “Aldermore impressed me very much both with how quickly they took on the challenge and with the intensity they brought to the process. We received the funding on time and when needed, which allowed us to meet our obligations to suppliers and build their confidence in us.