Yorkshire-based Complete Automotive Aftermarket Solutions (CAAS), which produces some well-known car-part brands and specialises in high-quality electronic power steering, hydraulic steering and air suspension technologies, has secured a funding facility from Bibby Financial Services (BFS).

Since it was established in 2013, CAAS (www.completeautomotive.uk.com) has demonstrated solid growth and increased its turnover every year.

It significantly expanded its Heckmondwike headquarters in 2017, opening new workshops and a bespoke R&D facility.

The funding from BFS will help the company to free up additional working capital, so that it can operate a more-efficient cash-flow system with its partners across the UK and Ireland.

The extra capital will also fuel its plans for further expansion, as it seeks to develop products in electric- and hybrid-vehicle remanufacture and supply.

Complete Group director Stephen Chandler said: “As a dynamic innovative business, we wanted to partner with a funder that would allow us the freedom to fulfil our ambitious growth plans.

“BFS understood our intent from the start and presented us with a funding package that efficiently encompasses our requirements.

“This means that we can press on with a series of exciting projects.”