– Renfrewshire Electronics Limited is a global supply chain management solutions provider
– Funding will help the business continue to grow its international operations and respond to increased customer demand
Shawbrook Bank has provided a Glasgow-based business offering supply chain management solutions for technology-driven companies internationally with £2.2 million in funding.
Renfrewshire Electronics Ltd (Rel Group) manages the supply and distribution of goods for businesses operating in the global computer manufacturing and technology market.
The loan from Shawbrook Bank will help support the continued growth of the company and ensure it has the funding to take advantage of increases in customer demand.
Rel Group was founded by CEO Tom Harwood in 1995 after spotting an opportunity with businesses in the local IT and computer industry looking to outsource non-core activities.
Harwood was introduced to Shawbrook Bank through a former customer of the Regional Business Centre team in Glasgow.
Tom Harwood, founder and CEO of Rel Group, says:
“The highly competitive, fast-moving nature of our industry means that we must have the flexibility to respond to commercial opportunities quickly. The team at Shawbrook Bank demonstrated a clear understanding of our sector and took the time to get to know our business. The funding further strengthens our positon in the market and will ensure we can respond to increases in demand from customers in the UK and overseas.”
Kevin Boyd, Managing Director, Scotland at Shawbrook Bank, says: “We’ve been able to draw upon the expertise of our Technology Finance team, but being based here in Glasgow has been key to spending time with Tom and the team at Renfrewshire Electronics. Tom has built a great business and the team will make the funding we’re providing work hard to support further growth.”