A MASSIVE £25 million finance package was today announced by the York headquartered CPP Group, one of the city's largest private employers.

The deal, structured by both Barclays and Lloyds Banks, will power CPP's aggressive growth plan in Europe and Asia.

The money will help the group both to expand its existing operations in Hong Kong and Singapore and to start its services in Taiwan, Malaysia and Korea next year. New markets in Europe are also being studied.

CPP, a leading consumer assistance business, specialising in identity theft assistance, mobile phone insurance and payment card protection, is already established in continental Europe and North America, and since 2004 has pursued an aggressive entry into Asia Pacific.

The organisation, which was the 2005 Evening Press Large Business of the Year, employs 1,500 people - 1,100 of them at its £11 million headquarters in Holgate Park, York.

It has consistently generated increasing revenue growth. Last year group revenue was £150.7 million, an increase of 15 per cent over the previous year and nearly treble the sales level of 2000.

Shaun Parker, CPP's group finance director, said: "Our business is performing well and in the last four years we have trebled our sales. As we continue to pursue an aggressive international growth strategy, I am very pleased that we have the strong support of Barclays and Lloyds."

CPP's products and services provide support and protection for 10.3 million customers including their plastic cards, mobile phones, identities, keys and financial status.

About 10.3 million customers rely on CPP to put things right if the worst happens in any of these areas.

The Group handles 4.3 million service conversations and 9.8 million telemarketing conversations per year and works with more than 300 business partners around the world. Its HQ is in York but it also operates in the US, Hong Kong, Germany, Spain, France, Italy and Portugal.

Craig Parsons, head of treasury at CPP, said: "Our strong cash flow performance over the past two years has enabled us to significantly reduce our bank debt and restructure a complex syndicate arrangement into a much more straightforward club facility.

"This new arrangement will save significant cost and management time over the next three years".

Ben Andrews, Barclays relationship director, said: "Barclays is delighted to support CPP, a top-quality York-based business with big growth ambitions in Europe and the Asia Pacific.

"CPP has continued to develop innovative solutions to tackle the issue of credit card protection and personal identity fraud and Barclays Business Banking and Barclaycard view CPP as a key strategic business partner."

Simon Banham, relationship director for Lloyds TSB, said: "'Lloyds have worked hard with Barclays over the past few years to develop a close working relationship with CPP and very much look forward to supporting the group's continued global expansion."

Updated: 08:56 Wednesday, December 21, 2005