Business Loans Case Study
All design and printing work is carried out by Warrens Display staff in Leeds, who travel around the world to install their creations. Andy Leal, Managing Director, said the business employs 30 staff but he expects to hire 10 more people.
After growing turnover to around £3m, Warrens Display decided to consolidate its offices, showroom and warehouse into a 36,000 sq ft building on Felnex Road, Leeds.
Andy said: "Like many businesses, our sales were affected by the recession but we have recovered well and doubled our turnover since then, which has made expansion a necessity."
Finance Yorkshire Involvement
The purchase of the new premises was supported by a £150,000 Business Loan from Finance Yorkshire alongside a seven figure loan from Lloyds Bank Commercial Banking.
The Investment Rationale
Jonathan Craig, Investment Manager at Finance Yorkshire, said: "Warrens Display has got a fascinating history and its success can be partly attributed to its ability to embrace technology and evolve its offering to stay ahead of the competition.
"It has now grown to a point where it needs to consolidate its operations into bigger premises and take on more staff to meet demand. We look forward to working with Andy and his team as they continue to win new business and create jobs."
Andy said: "We are seeing strong growth in the financial services sector, particularly in support of banks that attend graduate recruitment fairs. Another growth area is the cruise market, where we build stands for UK port operators to use at industry events."
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire