Business Loans Case Study
Labfacility, based in Dinnington, is the largest producer of temperature sensors for the aerospace and automotive industries, universities and research facilities, and exports 60 per cent of its products to more than 80 countries worldwide.
Following a tough year for the industry, the company centralised their national operations to Dinnington to cope with the economic climate. The South Yorkshire site is now their main production facility with 29 staff.
This has helped Labfacility become more efficient and is now starting to see an up-turn in the market. Labfacility has previously received investments from South Yorkshire Investment Fund (SYIF) and needed further investment to take advantage of the growing business opportunities.
Finance Yorkshire has given their support to the company with a £50,000 business loan, while Labfacility has also gained a £40,000 loan from Donbac, an Enterprise Agency and Loan Fund in Doncaster.
The investments will help Labfacility with capital investment in new tooling and to redevelop the company website with a new e-commerce facility.
The Investment Rationale
Labfacility is a leader in its field and this latest investment will ensure their facility in Dinnington continues to grow, attracting new work both in the UK and abroad, which will ultimately increase employment for the area.
Finance Yorkshire came around at a time when further investment was needed to continue Labfacility’s growth. The business is now looking to add to their workforce in Dinnington by recruiting quality manufacturing staff.
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire