ALEX LAWRIE STRIKES ASSET BASED LENDING DEAL WITH KMI
ALEX LAWRIE STRIKES ASSET BASED LENDING DEAL WITH KMI Alex Lawrie Factors has secured an important asset based lending and factoring deal with KMI - the company behind King of Shaves - the UK's second largest shaving brand after Gillette. The deal will enable Chesham-based KMI, celebrating its tenth year of business during 2003, to further expand and accelerate its growth into the key UK, US and European markets. This will be the first time Alex Lawrie has combined asset based lending and factoring in one deal. Established in 1993, KMI is an innovative, fast growing company in the FMCG toiletries sector, with one King of Shaves product sold every 9 seconds. The company also manufactures and markets Ted Baker 'no ordinary designer fragrances', the Fish 'Born in Soho' hairstyling range and Speedo Protek performance toiletries, with a customer base of UK and US based super - retailers such as Boots, Tesco and Target. Will King, KMI's Founder & CEO added, "We've been pleased to work with Alex Lawrie since 1995, and are keen to build on our past successes. Access to Alex Lawrie's financial expertise will be invaluable in continuing the outstanding growth of KMI - we're out to shave the world!" ..../more ALEX LAWRIE STRIKES ASSET BASED LENDING DEAL WITH KMI/.....P2 Nick Macey from Alex Lawrie comments, "We are delighted to be working with KMI and providing them with asset based lending facilities to help in the continued development of such a successful business. Unlike traditional lending approaches, we consider the specific type, quality and composition of assets which may be used as security for these advances. This flexible approach means that we can make a real difference to the development of companies such as KMI." - ends - For more information: Jo Ganly / Catherine Battershill Lloyds TSB Press Office Tel: 020 7356 2075 / 2495 Notes to editors: Alex Lawrie Factors, part of Lloyds TSB Commercial Finance ltd, is the leading provider of factoring for UK business. Lloyds TSB Commercial Finance is the leading provider of invoice discounting and asset-based lending for growing, established UK companies. Invoice discounting is one of the fastest growing forms of finance for companies needing working capital to expand. As an independently managed division of the Lloyds TSB Group, Lloyds TSB Commercial Finance Ltd offers entrepreneurial businesses a flexible form of financed tailored to meet their specific needs. Lloyds TSB Commercial Finance Ltd can support a business through all stages of its life cycle, from start-up to maturity. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/04/24/20030424BIT01940/wkr0001.doc http://www.waymaker.net/bitonline/2003/04/24/20030424BIT01940/wkr0002.pdf