A FIRM'S 120 staff can have a merry Christmas after their jobs were secured by a funding deal.
Workers at Ellesmere Port based E&P Painting Contractors, which applies specialist anti-corrosion paints and coatings, are benefiting from a new finance deal from asset-based lenders Davenham.
E&P supplies an array of technical expertise to countries around the world including Kenya, Somalia, Oman, Egypt and The Azores.
Its products include anything from non-setting, anti-vandal paint to coatings which resist fire for up to an hour, and seamless finishes for high hygiene areas such as hospitals and laboratories.
Managing director Arthur Ellis said: 'E&P has been in business for 25 years, and it wasn't until the summer that we started experiencing difficulties with our funders.
'Our old lender had made large losses with other companies in our sector, and consequently they became nervous and cut their advances.
'Our finance broker suggested a number of options, but the company we eventually went with was Davenham.'
Davenham was able to put together a financial package for the Rosscliffe Road business through invoice financing, an area which many conventional lenders shy away from.
Mr Ellis added: 'Once we were in touch with Davenham things progressed smoothly and quickly.
'Davenham is different from other companies we have worked with as they leave us to get on with running our businesses, while they get on with what they're good at.'
Davenham's regional director Mark Lindsay, who structured the deal said: 'E&P is an extremely robust company and it's great we were able to step in to secure its future and that of its employees.'
Trade finance sales and marketing director, Clive Naylor, said: 'E&P has a great product offering a traditional approach and a management team with integrity.
'It is a pleasure to support such a company and confirm our support to the local community.'