supporting enterprise across the uk

WHOLESALE BANKING & MARKETS
supporting
enterprise
across the uk
Partners in Business
MILTON
KEYNES
02
A RECIPE FOR SUCCESS
“With Lloyds Bank,
the financial markets
expertise you need
is right on
your doorstep.”
There are numerous schools of thought about
what it takes to build and maintain a successful
mid-sized firm in today’s challenging climate.
Tenacity, passion, commitment and vision are just
some of the vital ingredients that are shared by
the companies we showcase in this latest edition
of Partners in Business.
In this issue, our focus is on firms across the UK
who are exceeding expectations, wherever they
do business. At Lloyds Bank, we’re proud to be
supporting their success – not only through strong
banking relationships, but in other ways too.
Take our CBI ‘M-Clubs’ campaign for example.
This is an initiative we’re running across 11 UK
cities, bringing together medium-sized businesses
(MSBs) to facilitate discussion, access expertise
and create valuable networking opportunities.
This is hugely important in the current economic
environment; there is a great deal businesses can
learn and share with one another.
As a Bank, we are absolutely committed to
helping MSBs grow. That’s why we’re supporting
their cause through our own ‘Growth Champions’
campaign and our sponsorship of the ICAEW’s
‘Invisible Middle’ initiative.
Both aim to help mid-sized firms realise their full
potential. I believe there is an unmet demand for
a bank that shares the MSB agenda – that
understands their needs and is focused on trust,
relationship and service quality. We’re well placed
to meet that demand, right across the UK.
Whichever part of the country you are located
in, you’ll find experienced and specialist teams
dedicated to providing the support your business
needs. From financing to deposits, cash and risk
management and international trade, our teams
are committed to delivering first class service on
your doorstep.
For eight consecutive years now, Finance
Directors in businesses across the UK have voted
Lloyds Bank as their Bank of the Year. They put a
premium on service, certainty and partnership –
that’s what we deliver.
Enjoy this issue.
MARK STOKES
Managing Director
Lloyds Bank Wholesale Banking & Markets
Partners in Business
03
CONTENTS
04 Supporting Britain’s growth
champions
05 Signed, sealed & delivered in the UK
06 The complete banking solution
08 SCOTLAND
10 Case Study
Smith Anderson Group
11 Our Expertise
In Scotland
04
12 NORTH OF ENGLAND
14 Case Study
Halewood International
15 Our Expertise
In the North of England
16 MIDLANDS, EAST & SOUTH WEST
18 Case Study
Wessex Grain
19
19 Our Expertise
In the Midlands, East & South West
20 LONDON & THE SOUTH
16
22 Case Study
Longacres
23 Our Expertise
In London & the South
15
lloydsbankwholesale.com
18
Issue 4 | 2012
04
SUPPORTING
BRITAIN’S GROWTH
CHAMPIONS
We’re proud to be working with the
Confederation of British Industry (CBI), the UK’s
top business lobbying organisation, to help
mid-sized firms realise their full potential.
emma wild
Head of Future Champions
Project, CBI
Medium-sized businesses (MSBs) in the
UK make up a “forgotten army” of
potential high-growth companies that
have for too long been overlooked,
according to the CBI.
Research carried out by consultants
McKinsey & Co found these firms could
inject up to £20bn into the economy
by 2020.
In its recent report, Future Champions,
Partners in Business
the CBI found MSBs represent fewer than
1% of businesses, but generate 22% of
economic revenue and 16% of all jobs.
“They make a very significant
contribution,” explains Emma Wild, Head
of Future Champions Project, CBI, “but
could make an even bigger contribution
to the economy if the right conditions
were in place.”
The CBI’s remedy encompasses three
main players: MSBs themselves, the
banking community and the
Government.
Emma says that as businesses enter the
mid-size stage, the original founders
often benefit from external advice to get
the business to the next level. “MSBs
should look to their accountants and their
banks for support, rather than just audits
and overdrafts.”
The CBI is using its own wide-ranging
connections to set up networking events
for MSB leaders to meet both each other
and experts on a range of issues.
One goal is to increase exports. The CBI
is working on this with Lloyds Bank, as we
look to mobilise our own comprehensive
suite of funding and foreign trading
support skills to help UK firms exploit
opportunities at home and abroad.
The CBI also praises the Government for
taking on the MSB agenda, and is calling
on ministers to visit more businesses and
highlight the success stories. “The
05
SIGNED, SEALED
and delivered
scotland
£22M
UNDISCLOSED
Acquisition and Working
Capital Facility
Acquisition Facility
£10M
Acquisition Facility for Future
Acquisitions
NORTH OF ENGLAND
“We really believe that, to
emerge from the economic
downturn stronger than before,
we’ll rely on MSBs becoming
international champions.”
EMMA WILD, Head of Future Champions Project, CBI
Government can shine a light on how
important MSBs are to the economy,” says
Emma, “and make it more aspirational for
small businesses to grow that bit further.”
If MSBs meet the 2020 target, Emma
believes the UK can finally match the
export, innovation and growth
performance of Germany’s famous
“Mittelstand” medium-sized firms.
“The CBI’s vision is for MSBs to grow and
flourish and emulate the success of similar
sized businesses in other countries, such as
Germany,” she says. “We really believe that,
to emerge from the economic downturn
stronger than before, we’ll rely on MSBs
becoming international champions.”
lloydsbankwholesale.com
Cash Management
Provision of Full Banking
Relationship including Term
Debt & Working Capital Facilities
midlands, EAST & SOUTH WEST
£24M
£9.5M
Funding Package
Supporting Domestic
and International Growth
Funding Facility
LONDON & THE south
£12M
£80M
Funding Package
Revolving Credit Facility
Joint Mandated Lead Arranger
and Agent
Issue 4 | 2012
06
the complete banking solution
From the north of
Scotland to the south
of England, we
outperform all other
banks – a clear signal
that our UK wide
teams are delivering
local support
that counts
9 OUT OF 10
CUSTOMERS VIEW OUR UNDERSTANDING OF THEIR
†
NEEDS AS GOOD OR BETTER.
£45.3 BILLION
Our committed gross lending to UK businesses
in 2011 beat our Government target. the only uk
bank to do so.
TOP SCORE
for overall satisfaction
among £15m-£25m
turnover companies*
Winner
of Euromoney
Best Domestic
Trade Finance
provider 2012
Winner
81%
OF OUR CUSTOMERS RATE US
GOOD OR BETTER FOR “SUGGESTING
APPROPRIATE FINANCIAL IDEAS
†
& SOLUTIONS.”
Partners in Business
TOP SCORE
for satisfaction
of support for
refinancing*
TOP SCORE
for overall satisfaction
among £50m£100m turnover
corporates*
of Trade Finance
Deal of the Year,
2011
é
Best
Arranger
of Mid-Cap Loans,
2011 Euroweek
Syndicated Loan and
Leveraged Finance
Awards
85%
90.1%
é
OF OUR CUSTOMERS RATE OUR
“OVERALL VALUE FOR MONEY”
†
AS GOOD OR BETTER.
TOP SCORE
as voted by over
1,000 FDs at the
FDs’ Excellence
Awards*
89.1%
é
84%
87.8%
* Source: FDs’ Excellence Awards in association with the ICAEW and
supported by the CBI & Real Business. Business Bank of the Year was won in
2012 by Lloyds Banking Group plc which includes the operating subsidiaries:
Lloyds TSB Bank plc, Lloyds TSB Scotland plc and Bank of Scotland plc.
international
We have international offices in Europe, North
America, Asia and Australia to help with your
global corporate banking needs.
07
** Source: Internal customer data mapped to publicly available FTSE indices.
#
Source: Internal management information
† Source: Charterhouse Research Business Banking Survey YE Q2 2011, 186 customer interviews.
OUR DEDICATED BUSINESS SUPPORT
UNITS HAVE HELPED APPROXIMATELY
2,000
their nationwide efforts
have PROTECTED MORE THAN
250,000
UK JOBS SINCE 2009.#
BUSINESSES.#
8 OUT OF 10
LOAN AND OVERDRAFT REQUESTS APPROVED.#
international
• CASH MANAGEMENT • TRADE SERVICES
• TRADE FINANCE • RISK MANAGEMENT
FINANCING
88%
OF FTSE 100 GROUPs in
the uk HAVE A BANKING
RELATIONSHIP
WITH US.**
1st
OUR economic
experts were
voted the
• DEBT CAPITAL MARKETS • STRUCTURED FINANCE
• PRIVATE EQUITY • TERM LOANS & OVERDRAFTS
• WORKING CAPITAL FINANCE • TRADE FINANCE
deposits
• DEPOSIT ACCOUNTS • CLIENT ACCOUNTS
• FIXED TERM & NOTICE DEPOSITS
CASH
UK economic
forecasters
for 2011 by
Bloomberg.
WE SERVE MORE THAN
26,000
CUSTOMERS NATIONWIDE, FROM MID-MARKET
FIRMS TO GLOBAL CORPORATIONS AND
FINANCIAL INSTITUTIONS.#
lloydsbankwholesale.com
• FOREIGN EXCHANGE
• ONLINE SERVICES • CARD SERVICES
• CLIENT BANKING
• CASH MANAGEMENT
RISK
• FOREIGN EXCHANGE
• INTEREST RATES
• COMMODITIES
• INFLATION
With specialist support
available in 26 offices
across the UK, we’re
equipped to provide the
financial solutions you need.
Issue 4 | 2012
08
scotland
For centuries now, mediumsized businesses in Scotland
have relied on our experience,
our expertise and our service.
We finance growth at home
and overseas. We manage risk
and streamline transactions so
MSBs can respond quickly to
changing market conditions.
We are as ambitious as you are
– that defines us as Scotland’s
leading corporate bank.
Partners in Business
09
Alasdair Gardner
Regional Managing Director, Scotland
“WE’RE CLOSE AT HAND”
The scope and scale of our local
coverage means faster decisions with a
real understanding of your needs. It gives
you fast access to all parts of our banking
proposition and puts a world of experience
on your doorstep. We’re committed
to supporting viable MSBs, and our
participation in the National Loan Guarantee
Scheme (NLGS) provides viable firms with
discounted lending – a welcome addition
to the mid-market lending landscape.
YOUR TEAM IN SCOTLAND
Mark Prentice
Area Director,
Edinburgh & East
Scotland
mark.prentice@
lloydsbanking.com
0131 659 3342
Fraser Sime
Area Director,
Glasgow & West
Scotland
fraser.sime@
lloydsbanking.com
0141 224 1947
STUART WHITE
Area Director,
Aberdeen & North
Scotland
stuart.s.white@
lloydsbanking.com
01224 283 120
lloydsbankwholesale.com
Issue 4 | 2012
10
SUPPORT THAT
COUNTS
Like the proverbial phoenix, Smith Anderson Group
has risen from the ashes. Its latest step, a move to new
premises, sets the seal on its return to better times.
“The Bank’s willingness to finance
our funding gap for the purchase of the
Rosslyn Commerce Park site in Kirkcaldy
has been crucial,” states Michael
Longstaffe, CEO of Smith Anderson
Group. “Our ability to secure a Regional
Selective Assistance Grant was
conditional on us securing bank funding.
It was always a long-term objective to
move, as our existing premises aren’t
really fit for purpose. This funding has
made it happen.”
And what an achievement. In 2006,
bludgeoned by what Michael refers to as
‘a meteoric rise in energy costs’, the
Group’s papermill went into receivership.
“We’d been shoring up losses within the
papermill with the profit from the
packaging company,” admits Michael.
“Following the successful sale of our
envelope businesses in 2005, the cost of
energy increased multi-fold. A papermill is
Partners in Business
very energy hungry and we just couldn’t
compete in the European market where
gas prices were far lower.”
Pulling together
Though a heavy blow to the business,
the receivership was not fatal. Faced
with a pensions deficit and the
receivership on the one hand and an
award-winning, consistently profitable
packaging company on the other, the
business had to take stock. “The
packaging company was hived up into
the Group and we consolidated
“In real terms, what we’ve
achieved so far we couldn’t
have done if the Bank hadn’t
supported us.”
MICHAEL LONGSTAFFE, CEO,
Smith Anderson Group
operations at our Falkland site,” says
Theresa Thomson, Finance Director.
“We appointed an Executive Chairman,
who really helped us focus on reducing
costs, and we all pulled together.”
The double-whammy to the Group’s
financial future came when its incumbent
bankers decided they could not support
the business after the receivership.
Supporting the strategic direction of the
business was critical to ensure its
packaging subsidiary survived the
aftershocks of the receivership.
“We were clear on the process required
to secure the future of the Group,” asserts
Michael. “Our bankers at the time
couldn’t support that, so the relationship
ended amicably.”
Support that counts
“We had an offer from Lloyds Bank that
was particularly impressive. They were
very supportive of the position we were in
in 2006 and have been very supportive
ever since,” says Michael.
Initially looked after by the Bank’s
Business Support Unit, Michael is full of
praise for the assistance received. “The
packaging side of the business had been
profitable year in year out but external
influences in the shape of the receivership
and the pensions issue threw that into the
red. When we were able to stabilise this
with the advice and support of the
Business Support Unit, we were able to
pull through. Profit has returned and we
are now in a far more secure position. That
support in partnership is respected and
very much appreciated.”
Facing the future
Brynley Davies, Relationship Director at
Lloyds Bank, who has worked alongside
Smith Anderson, is delighted to see the
fortunes of the business looking up. “The
business has been through a massive
period of change and uncertainty. 2010
saw the business return to profitability and
the purchase of the new site is a huge
boost to the local economy in terms of
both creating and protecting jobs. 11
on your doorstep in scotland
EXPERTISE
Our Chief Economist in Scotland,
Donald MacRae, produces a steady
stream of Scotland specific reports and
is well respected in Scottish business.
His work, and that of his team,
complements UK corporate-specific
research to ensure we understand the
unique issues relevant to Scotland’s
economy. Visit our website to learn
about our insights.
www.lloydsbankwholesale.com/
insight-and-ideas
relationships
In times of challenge we’re keenly
aware of the stability you seek. We’re
a steadfast partner when the market
is uncertain, offering through-the-cycle
support via our dedicated Business
Support Unit (BSU). Our BSU has
helped approximately 2,000 UK
businesses since its inception in 2009
and we’ve invested in our local BSU
team to provide dedicated support
to Scotland’s MSBs.
“Their in-depth knowledge of the
business and their expertise in the food
and beverage sector meant funding
could be agreed quickly.”
Graham Stevenson, Managing Director, Inver House Distillers Limited
support
We’re based close at hand. We have
a network of offices and branches
across Scotland which means that we
are right on your doorstep. Our people
understand local issues and local
mid-market business and we make
90% of our credit decisions in Scotland
so you don’t have to wait for answers.
“We’ve partnered with Lloyds Bank
since 1977. They take the time to
understand our business, how it works
and the dynamics of the environment
in which we operate.”
David Harris, Group Finance Director, British Polythene Industries PLC
lloydsbankwholesale.com
Issue 4 | 2012
12
NORTH
A breeding ground for
entrepreneurial, dynamic
businesses, the North of
England also creates business
leaders with the grit and
determination to succeed.
Here at Lloyds Bank we
support that determination,
working together with MSBs
to deliver growth.
Partners in Business
13
MARK BURTON
Regional Managing Director,
North of England
“PROACTIVE SUPPORT close by”
“We’ve seen a significant increase in
medium-sized business activity in the
North in the first few months of 2012.
MSBs are looking for proactive support
on cash and risk management, so we’ve
strengthened our teams to deliver just that.
We’re committed to meeting your needs
and supporting your aspirations with
innovative finance packages and banking
partnerships that add value and support
your growth ambitions.”
YOUR TEAM IN THE NORTH OF ENGLAND
Dave Allanson
Area Director,
Manchester, East
Lancashire
& East Cheshire
david.allanson@
lloydsbanking.com
0161 227 4263
Tim Pryor
Area Director
South Yorkshire &
Humberside
timothy.pryor@
lloydsbanking.com
0114 260 9101
lloydsbankwholesale.com
Steve Harris
Area Director,
North & West Yorkshire
stephen.harris@
lloydsbanking.com
0113 215 0935
Mike
Mullaney
Area Director,
North East
mike.mullaney@
lloydsbanking.com
0191 255 1558
TIM RIGG
Area Director,
Merseyside, West
Lancashire & North Wales
tim.rigg@
lloydsbanking.com
0151 552 2083
Issue 4 | 2012
14
GROWTH IN
difficult TIMES
Halewood International is a clear success story; recently
being listed in the 2012 Sunday Times Profit Track 100. And
with its targets firmly set on global expansion, it has found the
support – and encouragement – it needs from Lloyds Bank.
“We’ve been with Lloyds Bank for
25 years, and have seen a great deal of
change in that time,” says Andy Smallman,
Managing Director of Halewood. “Their
support has been consistent throughout.”
Halewood has grown exponentially
to become the UK’s largest independent
drinks manufacturer and distributor,
with turnover in excess of £250m and
a global workforce of more than 1,500.
Starting as a family business, the company
developed into a successful MSB. Now as
a mid-cap it boasts an impressive product
portfolio, including some of the UK’s best
known drinks brands, such as Lambrini,
Lamb’s Navy Rum, and Crabbie’s
Alcoholic Ginger Beer.
Still 100% family owned, Halewood has
remained true to its founder’s ‘think big,
work smart’ guiding principle. From
headquarters on Merseyside, the
company now exports to more than 40
Partners in Business
countries worldwide.
“We’ve invested at home and abroad,
and this is now very much an international
enterprise,” says Andy. “The Bank’s
support has been essential.”
FACILITATING INVESTMENT
With a package that includes a £30m
commercial finance line and flexible
overdraft facilities, Lloyds Bank has been
steadfast in its support, Andy confirms.
“They have seen us through significant
“Our banking relationship
isn’t just about funding.
Their support gives us the
confidence to push forward
in new directions.”
Andy Smallman,
Managing Director, Halewood
growth – and challenging times. For
example, six years ago a duty hike on
RTDs (Ready to Drink) caused a
temporary drop-off in our UK results. The
Bank stood by us, ensuring we had the
funding available to support the business
going forward.”
Growing success in overseas markets
helped to offset this setback, while a
commitment to cost reduction and
efficiency across all production sites
has kept the business on a firm footing.
“Asset finance has enabled us to make
significant, essential investments in
new lines and enhancements to our
equipment,” Michael Luddington,
Halewood’s Finance Director, confirms.
“Even in recession, when you expect
difficulties in accessing funding, the Bank
has maintained the position that if there is
a good rationale, and a positive impact
on the bottom line, it’s worth doing.”
“We are delighted to support the
evolution of Halewood,” says Dave
Allanson, Area Director of Mid Markets,
Manchester, East Lancs and East Cheshire.
“The business may have changed, but a
strong management
team with a progressive outlook has
been constant.”
Investment is ongoing, with plans
progressing for a £3m upgrade to the
bottling facilities that will double UK
production capacity.
BROADENING HORIZONS
Halewood is constantly pushing
boundaries in terms of new products and
markets, and the Bank takes an active
interest, says Andy. “Over the last year
we’ve invested significantly in TV
promotion for Crabbies – this year we’ll
sponsor the Soap Awards for the second
time, for example. This has been a bold
step in an uncertain economy, but the
Bank was very supportive, and gave
us the courage of our convictions.
Our banking relationship isn’t just
about funding. Their support gives
us the confidence to push forward
in new directions.” 15
on your doorstep in THE NORTH
Support
Our support in the North extends
to all aspects of your business – at
home or abroad. We’re ranked
first for Domestic Trade Finance in
Euromoney’s Trade Finance Survey
2012 and going forward we’ll be
investing heavily to further improve
our international trade capabilities.
Service
In the North of England we’re
committed to providing core
banking services without fuss. We
pride ourselves on our accuracy
and we’re constantly streamlining
transactions to respond quickly to
changing market conditions.
Experience
Our complex deal team in the
North of England is experienced in
working with MSBs, with expertise
and knowledge to support the
unique requirements of businesses
within the sector. Whether it’s for
financial knowledge or banking
products to assist growth, they have
access to a broad range of specialist
disciplines to help unlock the
potential of businesses throughout
the region.
lloydsbankwholesale.com
“We were particularly impressed by the
way Lloyds Bank had stayed close to us
since the initial MBO in 2004. It meant that
they understood the business, they knew
what our plans were and they came to us
with a market-leading, flexible package.”
Nick Jones, FD, Aesica
“They knew an awful lot about the
business and our sector – that really
did stand out for me”
John Vandermeer, Finance Director, E.H. Booth & Co.
Issue 4 | 2012
16
MIDLANDS,
EAST &
SOUTH WEST
At the heart of the UK, the
Midlands boast a vibrant,
diverse economy. Founded
in Birmingham in 1765, we
have a strong heritage within
that economy, and through
our regional offices in the
East & South West of England
we work to support MSBs to
reinvigorate themselves to
grasp opportunities for growth.
Partners in Business
17
David Richardson
Regional Managing Director,
Midlands, East & South West
“WE’RE COMMITTED TO YOUR AMBITIONS”
“Here in the Midlands, East & South West
we’re committed to helping MSBs meet
their strategic ambitions. We have a
fantastic insight into local markets and the
expertise to support growth domestically
or internationally. This importance is
highlighted with news that China has replaced Germany as
the second biggest export market for the West Midlands.
As traditional markets are replaced, so there’s a growing
need for a bank that can not only assist business growth but
also has knowledge of these new and emerging markets.”
YOUR TEAM IN THE MIDLANDS, EAST & SOUTH WEST
ANDREW
CONNORS
JASON EVANS
Clive
Hetherington
DENE JONES
Area Director,
West Midlands
andrew.connors@
lloydsbanking.com
0121 625 6552
Area Director,
South West
clive.hetherington@
lloydsbanking.com
0117 905 2110
lloydsbankwholesale.com
Area Director, South
Wales & Severnside
jason.evans@
lloydsbanking.com
07725 446 741
PHILIP FULTON
Area Director,
East Anglia & South
Midlands
philip.g.fulton@
lloydsbanking.com
01223 227471
Area Director,
East Midlands
dene.jones@
lloydsbanking.com
0115 947 1100
Issue 4 | 2012
18
SEEDS
OF GROWTH
‘Working together’ is one of the original tenets of
farming co-operative and grain trading company,
Wessex Grain. So, naturally, they were looking for the
same quality in their banking partner.
“I was looking for a bank that
could be a partner for our business. I
wanted someone that was large enough
to give us all the things we needed, but
that was equally as prepared to get stuck
in and understand the business,” states
Managing Director of Wessex Grain,
Simon Wilcox.
Launched in 1980 when a group
of 45 farmers from Somerset and Dorset
joined together to form two co-operatives
and a grain supply company, today, the
business is farmer-owned and the
group’s key activity is grain trading.
“We trade with around 700 farmers
on a regular basis,” says Wilcox. “We’re
also very much a seasonal business,
which is one of the keys to
understanding our funding
requirements.”
Partners in Business
Delivering a timely solution
Planning a £2.5m investment boost to
develop additional storage, Wessex Grain
was fortunate to secure RDPE (regional
development) funding in 2010. As usual
the drawdown of the fund was dependent
on Wessex Grain securing debt funding.
So, when the business’ incumbent banker
failed to provide the funding required, the
whole investment was in jeopardy.
“You can’t often secure funding from
Europe,” Wilcox affirms. “So when you do,
you need to be able to react quickly.
“The team understood
what we were looking for
straightaway, which was great.”
Simon Wilcox,
Managing Director, Wessex Grain
Lloyds Bank stepped in and allowed us to
grasp the opportunity.”
The deal increased the business’
storage facilities from 50,000 to 70,000
tonnes and enabled their existing storage
to be upgraded. But it wasn’t the end of
the story. To ensure that Wessex Grain
could maximise the opportunities created
by this increased capacity, the Bank’s
Relationship team introduced them to
Lloyds Bank Trade Director, Simon
Robinson.
“We were keen to overcome the
restrictions that the company’s traditional
overdraft facility placed on its ability to
trade,” confirms Robinson. “A tailored
trade finance facility would allow Wessex
Grain to maximise its growth whilst
providing financing only as required.
We’d created a similar facility for another
customer so we knew it worked well.”
Sector understanding
And the new deal has met with a fantastic
response, making a real difference to the
company, as Wilcox explains:
“It’s made a fundamental change. It’s
matched our ability to borrow with our
working capital requirements, so it allows
us to take opportunities that are available
to us in the market.”
For Wessex Grain, the deal has
underpinned its relationship with Lloyds
Bank, demonstrating the team’s
understanding of the business, its
environment and dynamics at play.
“The team understood what we were
looking for straightaway, which was
great.” enthuses Wilcox. “On the back of
that, the deal progressed very quickly.
The Bank’s understanding of our sector
is very good. With our previous bank we
were looked after by their Agriculture
team. Now, with Lloyds Bank, our
Relationship Director, Mark Newman,
has a good understanding of the
business issues. He’s got a grasp of the
specifics of the business and he’s been
able to bring in people with the skills we
need to grow.”
19
on your doorstep in THE
MIDLANDS, EAST & SOUTH WEST
Expertise
We have specific trade finance
expertise in the Midlands, East &
South West and our relationship
teams have vast experience in FX
trading and risk management.
Analysis
We inform your business decisions
with industry insights. Our respected
Economic Research team provides
in-depth analysis on topical
economic, financial and industry
issues to help you face critical
challenges – and opportunities – in
unprecedented market conditions.
Growth
Here in the Midlands, East & South
West we are committed to your
company’s growth. Whether you
are growing by acquisition or
organically, overseas or at home,
we can help with innovative finance
and support, long term.
“We want to be in a position to move
quickly when we find appropriate
sites and, having worked extensively
with Lloyds Bank in the past, we knew
we could rely on the Cardiff team to
respond quickly to our needs.”
Martin Reed, Finance Director, Brains Brewery
“I was looking for a bank that could be a
partner for our business.”
Simon Wilcox, Managing Director, Wessex Grain
lloydsbankwholesale.com
Issue 4 | 2012
20
LONDON &
the SOUTH
Hosting the Diamond
Jubilee and the London
2012 Olympic and Paralympic
Games, London’s mid-market
business community faces
great opportunities and great
challenges this year. Here
at Lloyds Bank we work
closely with our customers
to deliver strategies for
success and the foundations
for sustainable growth.
Partners in Business
21
Ken Dilley
Regional Managing Director,
London & South
“A FOUNDATION OF SECTOR EXPERTISE”
“Fast decision-making is vital in today’s
medium-sized business climate. So is
trust in your banking partner and faith
that they can offer the specialist support
your business needs, both locally and
internationally. That’s why we deliver
exactly what we say we will, allowing you
to grow your business with confidence.”
YOUR TEAM IN LONDON & THE SOUTH
Steve Clarke
Area Director
Professional Practices,
Retail & TMT
mark.medd@
lloydsbanking.com
0207 661 4849
Sharon
Geoghegan
CathERINE
Martin
Area Director,
Gatwick & South East
sharon.geoghegan@
lloydsbanking.com
07841 780 171
lloydsbankwholesale.com
Mark Medd
Area Director,
Thames Valley & South
steve.clarke@
lloydsbanking.com
07920 207 685
matthew
packham
Area Director,
Trade, Industrials &
Services
matthew.packham@
lloydsbanking.com
07702 675 566
Area Director,
Hospitality and Leisure, Healthcare,
Education, Charities & Government
catherine.martin@lloydsbanking.com
0207 356 3556
Issue 4 | 2012
22
FLEXIBLE ALLROUND SERVICE
Longacres, the UK’s largest independent garden centre,
welcomed the positive “hands on” approach of Lloyds
Bank’s dedicated implementation team.
“Lloyds bank took a lot of the
pain out of switching banks,” explains
Financial Controller Rick De Kerckhove.
“They didn’t just send us a bunch of forms
and leave us to get on with it. They came
down to our offices and worked through
the whole process personally, explaining
everything in detail and the speed of
execution was incredible.”
Driven by a desire to receive value
for money alongside the same high
levels of service that the business was
used to, Longacres’ approach to Lloyds
Bank was a natural extension of the
business’ longstanding deposit holding
with Bank of Scotland. But, as Rick
points out, the banking touch points for
the company are varied and it was
crucial to get these all right.
Partners in Business
Good, all-round service
“We’re a retail business, so as well
as accessing flexible deposit services
with good pricing and returns, we also
need to ensure that the cash collection
services to and from our bank are
appropriate,” Rick says. In fact, by using
Lloyds Bank’s ‘Premier Direct’ bulk cash
deposit service, the Bank was able to
identify a 75% saving on cash collection
and an overall operational banking cost
reduction of 30%.
“Lloyds Bank took a lot of the
pain out of switching banks.”
Rick De Kerckhove,
Financial Controller, Longacres
“We’re also an importer, receiving
flowers and plants daily from the
markets in Holland,” adds Rick. “So we
needed a bank that could handle
foreign exchange and wire transfers.
Lloyds Bank ticked all the boxes.”
Despite the recession, Longacres
continues to bloom, a fact that Rick
attributes to people’s increased
emphasis on their existing property. “I
think that when times are tough, people
are reluctant to move home, vacations
become staycations and customers want
to make where they live nicer – it’s as
simple as that. We’ve been here for 30
plus years and we’ve got a good
reputation for value and, with the
improvements we’ve made and continue
to make, we attract both passing trade
and have created a destination of
choice.”
Supporting customer growth
The family business was started in 1979
by Peter Long, who lived on-site in a
caravan whilst growing the business from
a small nursery. Since then, Longacres
has grown to become the largest garden
centre in the UK, encompassing floristry
– with 100 florists on site creating displays
from cut flowers imported daily, a retail
offering and café outlet. The business
is currently undertaking a major
renovation programme at its Surrey
base to ensure that it continues to
meet current customer needs and is
positioned for further growth.
Iwan Jones, Relationship Director at
Lloyds Bank, is pleased to welcome
Longacres to the Bank: “This is a great
business that has remained in familyownership and firmly focused on
delivering quality and value to its
customers. After our cash management
specialist identified appropriate solutions,
the implementation team worked closely
with Longacres to move their banking
services swiftly and seamlessly, which was
particularly important to maintain the
business’ operational levels.” 23
on your doorstep
in LONDON & THE SOUTH
Ambition
Every medium-sized business
has milestones ahead. Whatever
future you’re planning our team
in London and the South can
help you to move your business
forward with confidence, working
with you to turn your ambitions
into reality.
Innovation
Our e-solution, Arena, provides
treasurers with finger-tip
access to our FX and money
markets expertise. It combines
rich intellectual capital such
as markets news, interactive
charting, risk analytics tools and
proprietary economic research
with a customisable interface
allowing you to make informed
trade decisions from your desk.
“Their detailed knowledge of the
hotel industry and of our business
really makes a difference.”
Aly Kassam, CEO, Crimson Hotels Group
Expertise
We’re continuing to support the
growth ambitions of businesses
throughout the region. Our sector
experience in London and the
South is extensive so we have an
in-depth understanding of the
support you need, particularly in
distinctive sectors like Hospitality,
Leisure and Healthcare.
lloydsbankwholesale.com
“Lloyds Bank took a lot of the pain out of
switching banks. They came down to our
offices and worked through the whole process
personally, explaining everything in detail and
the speed of execution was incredible.”
Rick De Kerckhove, Financial Controller, Longacres
Issue 4 | 2012
For more information, please speak to
your local Relationship Director or visit
lloydsbankwholesale.com
Please contact us if you’d like this in
Braille, large print or on audio tape.
We accept calls via Text Relay. Please remember we cannot guarantee security of messages
sent by e-mail. Lloyds Bank, Lloyds TSB Corporate Markets and Lloyds TSB are trading names
of Lloyds TSB Bank plc and Lloyds TSB Scotland plc. Lloyds Bank and Lloyds TSB Corporate
Markets are trading names of Bank of Scotland plc. Lloyds TSB Bank plc. Registered Office:
25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Lloyds
TSB Scotland plc. Registered Office: Henry Duncan House, 120 George Street, Edinburgh
EH2 4LH. Registered in Scotland no. 95237. Bank of Scotland plc. Registered Office: The
Mound, Edinburgh EH1 1YZ. Registered in Scotland no. 327000. Authorised and regulated
by the Financial Services Authority under registration numbers 119278, 191240 and 169628
respectively. FDs’ Excellence Awards in association with the ICAEW and supported by the CBI &
Real Business. Business Bank of the Year was won in 2011 & 2012 by Lloyds Banking Group plc
which includes the operating subsidiaries: Lloyds TSB Bank plc, Lloyds TSB Scotland plc and
Bank of Scotland plc. From 2005-2010 this award was won by Lloyds TSB Bank plc and Lloyds
TSB Scotland plc.
M59360/0612 MM0602/0612
Partners in Business