Engineering success with FlexABL
What the business does
Established in 1934, R E Cooke Limited is a Midlands-based engineering company that has grown from its humble beginnings operating from the founder’s garden shed into a modern manufacturing facility in Burton-on-Trent, Staffordshire. Today, the company specialises in the design and manufacture of sheet-metal engineered products, serving customers across the military, automotive, rail, and industrial sectors. Now led by the third generation of the founding family, R E Cooke combines decades of engineering expertise with modern manufacturing capabilities.
Its comprehensive service offering includes design, laser cutting, press braking, MIG and TIG welding, machining, and a full range of finishing solutions. Having achieved the highly regarded rail industry certification BS EN 15085, the company has strengthened its position as a trusted supplier to the rail sector.
Finding FlexABL: A faster, friendlier funding partnership
With R E Cooke’s former bank no longer supporting invoice discounting facilities, the business needed to secure a new funding partner quickly to maintain cash flow support and ensure continuity.
For the company, finding the right provider was about more than simply securing funding; it was also about partnering with a team that offered a straightforward process and a supportive approach.
Rebecca Mallinson, Administration Director of R E Cooke, said: “When we had to find an alternative invoice discounting company, after the bank we were using ceased offering the facility, we were attracted to FlexABL by the friendly approach and the straightforward process. The ability to draw down funds rapidly, when required, was a positive.”
A relationship built on responsiveness
The ease of transition to a new funding partner was just as important to R E Cooke as securing the right funding solution. Rebecca added: “The changeover was quick and easy and friendly people always at the end of the phone or email.”
R E Cooke regularly works with large organisations that operate extended payment terms, making invoice discounting a flexible solution to support the company’s working capital requirements. “In challenging situations, it allows you to access the required funds without waiting for payment. We often deal with large companies who require long credit terms (90-days) but payments need to be made faster.”
Reflecting on the ongoing relationship with FlexABL, Rebecca highlighted the value of having a responsive and approachable funding partner. “I have a positive working relationship with the staff. I know that a phone call or email will get a quick response, especially when I have been remiss in requesting funds by the cut-off.”
Supporting the next stage of growth
After more than 90 years of family ownership, R E Cooke is now planning for the next chapter of the business. With a focus on growth, increasing sales, and strengthening its market position, the company is working with specialist advisers to maximise its future value ahead of a potential sale.
“We are speaking with a marketing company that specialises in getting companies ready for sale. This involves increasing sales and promoting the business. Unfortunately, since my brother and I are both around retirement age and none of our offspring are interested in following in our footsteps, sale is the only viable option.”
With ambitious plans for the future, R E Cooke is focused on achieving projected growth, with FlexABL continuing to provide flexible funding solutions designed to help the business thrive.