Exhibition business secures funding for new headquarters
An exhibition business that has operated in Leeds for 125 years has secured funding to relocate to bigger headquarters and create 10 jobs.
Warrens Display started life as a photographic print business but now specialises in the design, print and build of eye-catching exhibition and display stands.
After growing turnover to around £3m, Warrens Display is preparing to consolidate its offices, showroom and warehouse into a 36,000 sq ft building on Felnex Road, Leeds.
The relocation is supported by a £150,000 Business Loan from Finance Yorkshire alongside a seven figure loan from Lloyds Bank Commercial Banking.
To date, Finance Yorkshire has invested over £105 million in Yorkshire and Humber, enabling companies to increase their turnover by £366 million and attract a further £257 million from other private sector sources. Finance Yorkshire investment has helped those SMEs to create and safeguard more than 11,000 jobs in the region.
Andy Leal, Managing Director of Warrens Display, said the business currently employs 30 staff but he expects to hire 10 more people this year.
“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.
“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.”
All design and printing work is carried out by Warrens Display staff in Leeds, who travel around the world to install their creations.
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.”
Ben Kimball, Relationship Manager at Lloyds Bank Commercial Banking, said: “Warrens Display has been an integral part of the local business community for more than 125 years, and has developed an enviable reputation for providing high quality print and display services. The business’ relocation is another significant milestone for the company and we’re pleased to have supported the firm in its latest move.”
Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help a range of small and medium sized businesses to meet their funding requirements for growth and development.
The project is supported financially by the European Union. It has attracted investment from the European Regional Development Fund (ERDF), as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, UK Government and the European Investment Bank. Finance Yorkshire is also supported by the Regional Growth Fund.
For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or call 0300 030 6060.
Note: this news article is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire