15 Feb 2012

Talley Group Ltd, one of the UK’s largest specialists in medical equipment manufacturing, is continuing its global expansion by moving its banking to HSBC’s Commercial Banking team in South Hampshire. The deal provides Southampton-based Talley Group with £3 million funding to help continue its targeting of international growth.

Having successfully secured distributors in Russia, India and South Africa already this year, the company is keen to expand into international markets further. Talley Group already collaborates with an impressive list of countries, including France, Italy, Switzerland, Holland, Finland and Australia, and international business represents over a third of its turnover.

Attracted by HSBC’s strong relationship management model and international capabilities, as part of the deal the company will benefit from a mix of structured loans and invoice finance products, allowing the business greater flexibility in managing its finances.

Rob May, International Commercial Manager at HSBC in the Southampton, said: “The Talley Group has a strong business model in the UK, providing an excellent service to the healthcare industry such as the NHS, and has replicated these strengths globally. The business has made strong inroads into a diverse range of countries, proving that if the product is of high quality and relevance to the target market, there are plenty of international trade opportunities available. HSBC is delighted to be supporting the Talley Group in its continued phase of growth.”

Martin Webb, Finance Director at Talley Group, commented: “A significant part of our business is built on international sales and as we look to source further global distributors in the New Year, working with a global organisation such as HSBC will help us to achieve our goals. The healthcare industry, whilst being affected by public sector cuts and external economic factors, will always be in need of good quality and value products and as a business we work hard to ensure that out customers are getting the best, most relevant, service from us.”

The Talley Group has an annual turnover of £12 million and employs around 160 people. The organisation has been operating for over 50 years and its clients include the NHS, nursing homes and the private sector. It keeps all phases of development in-house, maintaining control of all aspects of the product thereby ensuring quality and reliability are maintained.

After successfully meeting its Merlin lending commitments last year, HSBC plans to offer even more lending support to SMEs in 2012 and to continue to develop innovative new products.

To reinforce the bank’s strategy to be the leading international trade and business bank, HSBC is increasing the number of International Commercial Managers by over a third and will look to approve at least 80% of applications for finance from SMEs. This is a clear commitment to UK business and the UK economy.