Caledyne has entered into a new, exclusive banking partnership with Clydesdale.
The team at Clydesdale Financial Solutions Center (FSC) in Aberdeen will provide $2.7 million debt-funding, working capital, asset finance and ancillary banking services to Caledyne.
Caledyne Managing Director, Roland van Dort said, "Since setting up in 2004, Caledyne has focused on research and development, ensuring a full suite of tools was developed to the latest quality standards. We are now in a robust position to fully exploit and commercialize our innovative products, taking them to markets around the world and we needed a banking partner that would support our growth.
"Our previous bank was not in a position to provide all the support we required and we were not keen to go down the private equity route. However, Clydesdale was able to meet our expectations both in terms of funding and support from an experienced team. Their commitment to Caledyne underlines their confidence in our ambitious growth plans."
Commenting on the partnership, Robin Hewitt -- partner business banking at Clydesdale -- added, "Caledyne is an excellent example of the type of company we are keen to work with. They have ground-breaking technology, a robust management team with strong leadership and ambitious but achievable growth plans. We are delighted to be working with them to support those plans."
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