Aldermore Bank has provided a £5m (€4.7m) asset finance facility to Harrogate Water, a Yorkshire-based bottled water producer.
Harrogate Water was founded in 2001, and produces Harrogate Spring Water and Thirsty Planet, a charity brand. Its manufacturing plant is based in Harrogate and has 70 employees.
The facility from Aldermore will fund a glass and combination production line, which will allow production to increase by 27,000 bottles of water per hour.
Aldermore previously provided Harrogate Water with a working capital facility in early 2012, which is still in existence.
James Cain, managing director at Harrogate Water Brands said: “During our time working with Aldermore, Harrogate has gone from strength to strength. We have invested heavily in recent years and now, with our new bottling line, we are equipped with the latest technology to allow us to meet increasing demand for our products as we enter our next phase of growth.”
Carl D’Ammassa, group managing director, business finance, at Aldermore, said: “Harrogate has been on an impressive trajectory over the past few years and we are very pleased to have played a small part in their success.
“Since we started working with Harrogate five years ago we have aimed to help them realise their strategic objectives and are looking forward to continuing our partnership well into the future."