UK-based manufacturer and assembler of plastic and composite components Goodfish Group has secured additional funding of £11m ($14m) from Shawbrook.

This multi-asset facility supported Goodfish’s acquisition of Schneider Electric’s UK extrusion and assembly business in Flint.

Established in 2010, Goodfish Group currently has four manufacturing and assembly facilities across the UK.

The recent acquisition enables Goodfish to operate under the new name Goodfish (Flint), expanding its services within the building and construction sectors.

Goodfish Group managing director Jamie Kerin said: “This acquisition is a natural next step, allowing us to enhance our services and increase our capacity. We’re pleased to bring the Flint operations into the Goodfish Group and for the continued support of Shawbrook in funding these strategic initiatives.”

Shawbrook’s multi-asset facility to Goodfish includes receivables, property, inventory, and plant and machinery.

Shawbrook asset-based lending client director Liam Baxter said: “We’re delighted to continue our support of Goodfish’s growth and build upon our longstanding relationship. The acquisition was complex, involving an extended timeline and multiple approvals due to the scope and scale of the transaction.”

This partnership between Goodfish and Shawbrook began in 2020 when the bank first assisted with the acquisition of Honeywell’s operations in St Asaph.

The latest financial support is expected to facilitate the integration of the Flint operations into Goodfish Group.

The funding will also provide working capital to foster growth and meet the increasing demand in their market sectors.