The IBP Group, the Kingswinford manufacturer of plumbing fittings and valves, has secured a £25 million finance package from HSBC.

Operating from a 58,000ft2 distribution facility on the Pensnett Estate, the company employs 80 people in the UK and 850 globally. It has operations in Europe and Asia and has recently opened a distribution centre to serve the Gulf states.

It has moved its banking to HSBC’s Midlands corporate banking operation and secured the finance package in a deal set up by corporate banking manager Hayden Adams and business-development manager Martin Walters. Andrew Mason, group financial director of IBP, said: “In the last three years, IBP has undergone significant change and global sales growth.

"While already well-funded, it was clear that we needed a single-source major banking institution to help us manage our geographically diverse business structure and drive future developments.”