Private equity-backed online bathroom retailer Victoria Plum has secured a £7m funding facility from Secure Trust Bank Commercial Finance to support further growth.

Our asset based lending team were delighted to provide Secure Trust Bank with inventory valuation advice that helped secure the deal for Victoria Plum.

The Doncaster-based company, owned by private equity fund Endless, reported £103m in sales in its 20th anniversary year, up 46 per cent on the previous 12 months.

Over the course of last year, Victoria Plum launched a bathroom design and installation service and also took the decision to prioritise flexible working. As a result, the company’s offices in Doncaster and Hessle have been transformed into co-working hubs where people can work and meet as required.

The £7m facility provided by Secure Trust Bank Commercial Finance, comprised a £4m inventory facility and a £3m cash flow loan. It is set to support Victoria Plum with continued expansion building on the momentum it has seen in the past year.

Christian Humphreys, partner in our asset based lending team commented, “Sanderson Weatherall was delighted to provide inventory valuation and advisory services to support both Endless and Secure Trust Bank in the asset based lending structure provided to Victoria Plum, that will enhance the business further in the years to come”.

John Gribbon, regional managing director at Secure Trust Bank Commercial Finance, added: “Victoria Plum is a fantastic Yorkshire business with an impressive management team that is committed to customer service.

“Reflecting on the retailer’s expansion in the past 12 months, it is clear to see the real benefits since Endless came on board, and with a clear scalable infrastructure, there’s no doubt it will continue on this trajectory.

“We’re pleased to be building on our relationship with Endless and look forward to continue working with them to support Victoria Plum and other portfolio companies moving forward.”