Clydesdale Bank has announced the completion of a Growth Finance deal with one of the UK’s fastest growing semiconductor companies.
CamSemi - which is based in Cambridge, UK and with offices in Taiwan, China, Hong Kong and Korea - is an emerging leader in power management Integrated Circuits for cost-efficient mains power conversion products. The company’s unique solutions and approach are helping power supply and solid-state lighting manufacturers develop products that are smaller, lower cost, more energy-efficient and easier to manufacture. CamSemi is already a key supplier to many of the world’s top networking, consumer electronics and mobile phone brands and has received multiple industry awards for its innovative technologies and products, as well as its international sales growth.
David Baillie, CEO of CamSemi said: “Clydesdale Bank’s Growth Finance offering has been secured on excellent terms and is very well suited to our need to service unprecedented customer demand while developing more integrated and higher performance next generation products for launch later this year.”
Graeme Sands, Head of Growth Finance at Clydesdale Bank, said: “At a certain stage in a company’s development we can blend an appropriate level of senior debt alongside equity. CamSemi’s very strong track record and sales growth in large and rapidly growing markets along with their extensive portfolio of Intellectual Property is an ideal fit with our product offering.”
Martin Guildford, Managing Partner at Clydesdale Bank’s Financial Solutions Centre in Cambridge, said: “We were keen to utilise some of our local team to deliver an extremely innovative and useful funding solution for a business that has exceptional potential. The Bank made a commitment to lend £10bn of new lending to business and mortgage customers by October this year – something which we are well on track to achieving – and this is just another example of how we’re working with local companies to help them invest in the future growth of their business.”
Clydesdale Bank’s Growth Finance packages provide both term debt and working capital support as well as transactional banking services such as interest rate hedging and currency management and are specifically aimed at high-growth, venture capital-backed businesses with strong intellectual property. The Growth Finance team operates from offices in London and Glasgow, but utilises the expertise of colleagues at the Bank’s UK-wide network of Financial Solutions Centres (FSC) to help deliver the multi-faceted facilities.