Millstone Durbax Limited is a UK-based supplier of speciality chemicals, serving customers across the animal nutrition, performance chemicals and pharmaceutical sectors. Established in 2021, the business exports 100% of its products to international markets and is rapidly growing its global footprint, with operations spanning the UK, Thailand and the United States.
To support continued growth and manage working capital requirements, Accelerated Payments provided a £500,000 multi-currency selective invoice finance facility, enabling the business to unlock cash tied up in export invoices and reinvest it back into growth.
“We’re still quite a young company, but the team has a wealth of experience and know-how in the industries we work in.” Elliot Pryce, Commercial Director, Millstone Durbax Limited
As a young, growing and wholly export-led business, Millstone Durbax Limited faced the common challenge of balancing supplier payments with customer payment terms.
While many customers were requesting extended payment terms, the business still needed to pay suppliers promptly and maintain sufficient working capital to support growth. This created a natural timing gap between cash going out and cash coming in, placing pressure on day-to-day liquidity. In addition to supporting ongoing operations, the business was looking to continue investing internationally and required a funding solution that could scale alongside its ambitions.
“A lot of our customers were wanting longer payment terms than our suppliers could offer us. We had that natural imbalance between paying suppliers and receiving funds from clients, while also needing enough capital to maintain steady growth.” Elliot Pryce, Commercial Director, Millstone Durbax Limited.
Millstone Durbax Limited was introduced to Accelerated Payments by Moorfields Commercial Finance, who took the time to understand the business, its growth plans and funding requirements before recommending a suitable funding partner.
The referral enabled the business to explore invoice finance at exactly the right time, providing access to a funding solution tailored to an international trading company.
“Moorfields took the time to understand our business and assessed suitable funders within their network. They came back to us and said that Accelerated Payments would be the best fit.” Elliot Pryce, Commercial Director, Millstone Durbax Limited
Accelerated Payments provided a £500,000 multi-currency Selective Invoice Finance facility, supporting invoices raised in both GBP and EUR. Designed around the needs of an international, export-led business, the facility gives Millstone Durbax Limited access to funding against overseas receivables, helping bridge the gap between supplier payments and customer payment terms while maintaining the working capital needed to support growth.
The facility was established at a key stage in Millstone’s growth journey. By accessing cash tied up in export invoices earlier, the business gained greater flexibility to manage supplier commitments while continuing to invest in future growth opportunities and wider international expansion.
“The ease of the process was the main reason for going with Accelerated Payments. It was easy to upload invoices, add clients and get everything set up. The whole process was straightforward and progressed really smoothly.” Elliot Pryce, Commercial Director, Millstone Durbax Limited
By releasing cash tied up in outstanding invoices, Millstone Durbax Limited has been able to strengthen working capital, meet supplier commitments with confidence and support the continued growth of the business.
The facility has also supported the group’s wider international ambitions. Earlier access to cash has enabled the business to invest more quickly in strategic growth initiatives, creating additional capacity to support expansion plans and future development across the group.
As a 100% export-led business, the availability of a multi-currency facility has also provided the flexibility needed to support international trade and evolving customer requirements across overseas markets.
“The impact has been very positive. It has allowed us to bring cash into the business to clear supplier debt, while also supporting investment into our wider international growth plans. Being able to release cash earlier has helped us speed up that process, which has been really useful.” Elliot Pryce, Commercial Director, Millstone Durbax Limited.
For Elliot, one of the standout aspects of working with Accelerated Payments was the speed and simplicity of the process.
Although the concept of alternative funding such as Invoice Finance was relatively new to the business, the onboarding, set-up and funding experience surpassed expectations, allowing the team to focus on running and growing the business rather than navigating a complex funding process.
“I was really surprised by how quickly everything moved and how easy it was to get on board and get moving with the funding. If friends or contacts in the industry were looking for a similar option, I would have nothing but positive things to say about working with Accelerated Payments.” Elliot Pryce, Commercial Director, Millstone Durbax Limited
