White Oak UK has signed a vendor finance agreement with Sweden-based Assa Abloy, a multinational manufacturer of keys, locks, and security items.
The vendor finance partnership will be rolled out across the majority of Assa Abloy brands, and will initially commence with Traka, a key and keycard management company.
The partnership will also be extended to the Abloy and Mul-T-Lock divisions later this year.
Rob Hulse, head of channel development at White Oak UK said: “We’re delighted to announce our partnership with Assa Abloy, making it easier for their customers to purchase the security and asset management solutions they need. By utilising our Partner Programme, clients have access to a range of flexible finance solutions which enables them to maintain and grow margin, increase sales and improve cash flow to help support businesses across the UK.”
Assa Abloy was founded in 1994 following a merger, though the history of the Abloy company dates to 1907.
Other brands in the Assa Abloy parent company include American companies Yale and Medeco.
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Francesco Surace, UK finance director at Traka, said: “We are dedicated to satisfying end-user needs for security, safety, and convenience and believe that our partnership with White Oak UK demonstrates our commitment by making our solutions more affordable for our business customers. White Oak UK was the natural partner of choice due to the high level of service they offer, along with the ease and speed of their applications. We look forward to working with them as we continue to provide unparalleled security solutions across a range of markets.”
Based in Ewloe, North Wales, White Oak UK changed its name from LDF in July. In 2017, the firm provided over £511m in funding to businesses, having also broken the £1bn mark on its own book in 2018 since its launch four years prior.