A signage firm in Leeds has moved to larger premises and purchased new equipment, creating six jobs, with the support of a funding package from Lloyds Bank Commercial Banking.
Signlex produces signage for a wide range of businesses including Saint Gobain, Unilever and Balfour Beatty, but until recently the manufacturing work was outsourced while design and project management was handled internally. The company has now purchased new machinery for the printing, cutting and laminating of signs to enable it to bring a considerable amount of its work in-house.
The business has also moved premises on the Maybrook Industrial Park, creating office space for up to 20 staff and a large workshop area for production using its sophisticated range of new equipment.
Signlex was started in Leeds in 2007 by managing director Simon Belton, who has worked in the industry for 30 years. The company is on course to increase its turnover to around £2 million this year from £1.3 million in 2014, which led Simon to begin exploring new ways to drive the company’s continuing expansion.
Simon Belton, managing director of Signlex, said: “The investment in new equipment is a huge step forward for us as a company, which will significantly increase our profit margins and is already opening up new and larger contract opportunities for us.
“We are also bringing sign installation in-house, with our own van and installation team, as well as starting to print onto a wider range of materials including glass, acrylic, timber and vinyl, giving us a real edge when competing for new work.”
The company approached Lloyds Bank Commercial Banking to secure a funding package to support its growth strategy, which included an asset finance facility to purchase the new machinery. The bank also assisted in the securing of Regional Growth Fund support for the expansion.
Simon added: “The support offered by the bank was perfectly suited to the type of expansion we were planning, and was a key part of the smooth completion of the purchase.”
Evan Griffin, relationship manager for Lloyds Bank Commercial Banking, said: “This expansion really is a transformative step for Signlex, which will open up new opportunities to take on larger and more complex contracts.
“There is a wide range of support and guidance we can offer to businesses to support their growth plans, and we continue to approve eight out of ten requests for loans and overdrafts.”
