A Hull-based digital label printing and brand management business has secured a “significant” funding packaging from HSBC Corporate Banking.
Springfield Solutions Limited (Springfield) was set up by Albert Dass more than four decades ago with HSBC as its banker.
The company said this long-standing relationship has allowed HSBC to “understand and work closely with Springfield”.
The funding will be now used to allow the business to roll out its growth plans.
As part of these plans, Albert Dass will focus his time on special projects with his son Matt stepping into the Managing Director Commercial & Innovation role.
Matt Dass will work alongside Steve Forster who will focus on his position as Finance & Business Strategy Director and Dennis Ebeltoft who will continue as Operational & Systems Director.
Dan Wilson, Relationship Director HSBC, said: “It has been a pleasure to support such a longstanding client with these new facilities which will provide them with the financial resources to continue to grow and develop the business under the leadership of the next generation of the Dass family.”
Richard Townsend, Director at DSW Corporate Finance, added: “Working with the owners and management of Springfield has demonstrated the current vibrant business environment in Hull and Yorkshire in general.
“Albert and the team over many years have established and built up a great business based on innovation and quality which can now be transitioned onto the next generation that is ideally placed to take Springfield forward to the next level.”
DSW Corporate Finance, Rollits Solicitors, Holdstock Accountants and the Tax Advisory Partnership acted for the shareholders and advised the business whilst Wilkin Chapman Solicitors’ Beverley office advised HSBC.
The team at HSBC was led by Dan Wilson and Julie Bowler.