Sealing Solutions Firm Secures Funds to Accelerate Growth

(L-R) Yossuf AlBanawi (Sealprem), Andy Gray (HSBC UK), Omar AlBanawi (Sealprem)

A Scunthorpe-based construction sealing solutions company is targeting international growth with a seven-figure funding deal.

Sealprem, owned by Red Coast Industries, has secured a funding package from HSBC UK to accelerate its growth strategy.

Sealprem and Red Coast Industries will use the funding to pursue organic growth, merger and acquisition opportunities and joint venture strategies.

Funding is also being utilised to develop e-commerce capabilities for Sealprem, strengthening its digital presence and domestic reach.

Sealing Solutions

Sealprem is an ISO 9001 accredited sealing solutions provider for roofing, cladding, coldstore and façade projects. The company supplies anti-corrosion solutions for metal and other types of roofing sealants.

Omar AlBanawi, Director of Red Coast Industries, said: “Securing funding with HSBC UK marks an important milestone for Sealprem, as we expand our offering into a broader one-stop-shop solution for the industrial building envelope sector. This new banking partnership provides us with a supportive long-term funding structure, greater operational flexibility, and a relationship that is aligned with our international growth ambitions.”

Middle East Ambitions

Separately, Sealprem has ambitions to grow sales across the Middle East, in Saudi Arabia and the UAE, bridging the UK and Middle East markets to serve key customers that operate cross-border.

Red Coast Industries is anticipating the creation of new jobs at Sealprem, in support of double digit growth in turnover over the next 12 months.

Red Coast Industries is a private equity firm, founded by Omar and Yossuf AlBanawi, focused on acquiring lower-middle-market businesses in the building materials sector, with a particular focus on industrial roofing and cladding.

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