Maxflow Power Products Limited, a manufacturer of industrial pressure washers and power products based in Northern Ireland, is set to accelerate its growth thanks to a new partnership with UK Export Finance (UKEF) and Ulster Bank. This collaboration has provided Maxflow with a finance package that will facilitate its expansion into new export markets, enhancing its ability to serve customers worldwide.
With over 25 years of experience in the industry, Maxflow has become a reputable supplier of industrial pressure washers, generators, parts, and accessories. As the first company in Northern Ireland to receive a UKEF-backed facility through Ulster Bank, Maxflow is paving the way for future collaborations between regional businesses and government-backed financial institutions.
The financial support from UKEF and Ulster Bank also includes a significant multi-million-pound package to assist with a Management Buy Out (MBO), allowing the company to better manage cash flow challenges often associated with scaling operations. This support has enabled Maxflow to maintain high stock levels, ensuring that products are consistently available for customers and solidifying its position in a competitive market.
Maxflow’s revenue growth has been significantly driven by exports, and the opportunity to enter new markets presents exciting possibilities. The trade loan facility issued through UKEF’s General Export Facility (GEF) allows small and medium-sized enterprises (SMEs) like Maxflow to access additional working capital and scale their operations. Last year, the GEF scheme provided over £576 million in working capital loans to SMEs.
Liz McCrory MBE, UKEF Export Finance Manager for Northern Ireland, expressed pride in supporting Maxflow’s growth. She noted that the collaboration between UKEF and Ulster Bank exemplifies how the GEF can empower SMEs in Northern Ireland to realise their growth ambitions and explore new markets.
Ryan Wylie, Managing Director of Maxflow, expressed excitement about the company’s growth trajectory. He emphasised the commitment to exceptional customer service, which is fundamental to Maxflow’s operations. “Expanding into new geographical markets is a transformative step for Maxflow, and the support from Ulster Bank and UKEF has been crucial in helping us seize this opportunity,” he stated.
In addition to financial support, Maxflow is investing in infrastructure with the construction of a new factory, set to be completed in 2025. This facility will consolidate operations, streamline logistics, and enhance overall efficiency, contributing to Maxflow’s long-term growth objectives.
As the company expands, it is also focused on creating job opportunities in Cookstown, Northern Ireland. With a dedicated team of 25 employees and plans for further expansion, Maxflow aims to establish itself as a market leader in industrial power product solutions.
Leona McNicholl, Senior Relationship Manager at Ulster Bank, highlighted the bank’s commitment to supporting Northern Ireland’s businesses in their growth journeys. She stated that the financial tools provided are essential for companies like Maxflow to realise their potential and pursue new opportunities.
Maxflow’s story illustrates the significant impact of strategic financial partnerships, infrastructure investments, and a customer-centric approach in driving substantial growth and expansion into new markets.
