Cynergy Business Finance provides £17 million funding to Steel Dynamics Group

By

Daniel Monksfield

Cynergy Business Finance has announced a £17 million asset-based lending facility to Lancashire based Steel Dynamics Group alongside an undisclosed equity investment from Bolt Industries.

The facility will provide additional liquidity to support the continued growth and expansion of the group, allowing them to service exceptional demand for the group’s services.

The funding from Cynergy Business Finance, which takes the form of an invoice discounting facility, inventory finance, asset finance, and a cashflow loan, will enable Steel Dynamics Group to enhance its operations and continue their drive to reduce customer costs, enabling UK manufacturing to flourish.

North West accountancy and business advisory firm, Cowgills, led by Debt Advisory partner Benjamin Day, advised the group on the refinance.

Steel Dynamics Group, founded in 2011, is a fast-growing UK metals company supplying and processing stainless, carbon, and non-ferrous materials through its divisions Steel Dynamics UK, Offshore Stainless Supplies, and P&P Bornmore Metals.

The group primarily serves high-spec applications in nuclear, offshore, and petrochemicals via their full suite of fibre laser, hi-def plasma and waterjet cutting machines, including the UK’s largest 14M x 4M waterjet cutting machine,

This latest funding package from Cynergy Business Finance highlights its role as a key player in the UK’s industrial sector. This deal further reinforces CBF’s position as a flexible and forward-thinking lender in the asset-based finance market.

Danny Monksfield, Corporate Sales Director at Cynergy Business Finance, said:

“We’re proud to support Steel Dynamics Group at a pivotal stage in their growth journey.

This funding demonstrates our commitment to backing ambitious, high-performing businesses that are driving the UK’s industrial sector forward.

At Cynergy Business Finance, we’re focused on providing flexible solutions that empower our clients to scale with confidence.”

Ian Griffiths, Chief Executive Officer of Steel Dynamics Group, added:

“Partnering with Cynergy Business Finance and Bolt Industries has given us the financial flexibility and confidence to accelerate our growth plans.

Their understanding of our industry and tailored funding approach made them the ideal partner for this next phase.

We’re excited about what this means for our team, our customers, and the future of Steel Dynamics Group.”

Benjamin Day, Debt Advisory Partner at Cowgills said:

“It’s always a pleasure working with Ian and the Steel Dynamics Group to support their impressive journey.

Cynergy were superb throughout the process and very thorough in their approach to understand the business and to come up with a funding structure that works.

Their unrivalled access to senior members of their team really helped build the relationship in the lead up to completion.

I’m looking forward to seeing where this partnership goes!”

Cynergy’s due diligence was supported by Interpath Advisory and European Valuations, with Bermans providing legal advice.

AB Corporate supported the investment from Bolt Industries and Mills & Reeve advised Steel Dynamics.

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