News: Funding boost for Rotherham's Specialised Laser Products

Rotherham-based Specialised Laser Products Ltd (SLP) has secured a seven-figure working capital facility to support future growth.

The company provides laser cutting services for a wide range of industries and has more than 500 clients nationwide. Working across a wide range of sectors, the firm uses ultra-precise methods to laser cut steel and aluminium sheet metal with the finest degree of accuracy.

Owner and founder Duncan Proctor, an expert in the metal cutting services sector, established SLP in 1995 to initially support the machine knife industry. The firm now employs 30 people at its Canklow Road premises on the edge of the town centre and is winning new contracts in the rail industry.

The working capital facility was structured by Adam Myers at Ultimate Finance, who worked with Adam Simpson at the Liquidity Club to tailor a finance package to support SLP's growth strategy to move the business forward to expand with new projects in the rail sector and increase profits. The working capital line includes a revolving facility that provides flexibility for SLP to access funding when it is needed to assist new contract wins and growth opportunities.

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​Duncan Proctor, managing director at SLP (pictured, left), said: "The new funding package puts SLP in a strong position for continued growth and will support new contract wins and our ability to drive forward the business. We have recently expanded our sales team which further strengthens our ability and desire to increase our customer base across the UK. We want to be the best at what we do – which is why we've invested in our people and use the latest technology, enabling us to deliver projects on time and to specification.

"I have been impressed by the support provided by Adam Simpson at Liquidity Club. He has been first class. The whole process has been much easier because Adam reviewed the funding options and introduced us to the right funding partner. As a result, we have worked with Adam Myers at Ultimate Finance and received the funding boost we needed to support our growth."

Adam Simpson, commercial director Liquidity Club (pictured, right), said: "SLP is a great family run business and Duncan is hugely knowledgeable in his field of work. Thanks to the working capital facility provided, SLP can grow the business with confidence they have the right financial backing. Duncan is the driving force at SLP with over 25 years in the industry and his hard work and knowledge is really paying off. The expansion of the sales team and new business wins highlights SLP's commitment to take the business to the next level and they have identified opportunities to expand into the rail sector."

Adam Myers, regional director at Ultimate Finance (pictured, centre), added: "Supporting a successful, expanding and ambitious family business is exactly the sort of good funding that Ultimate Finance exists to deliver.

"SLP is winning exciting new contracts in the rail industry and the funding that we've provided means they can maximise those opportunities. ​We were able to offer Duncan and his team an increased finance package that provides extra security to continue pursuing their growth plans with confidence. Working with Duncan and Adam at Liquidity Club, has been a pleasure."

SLP website
Liquidity Club website
Ultimate Finance website

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News: Finance Yorkshire creating legacy fund

Regional funding body, Finance Yorkshire has fully repaid its debt finance meaning that future returns from investments will now be used to create a legacy fund for future investment into the region.

The Finance Yorkshire fund achieved full investment of £113m last year. It was originally developed as a European JEREMIE initiative, capitalised by grants from the UK Government, European Regional Development Fund and debt finance from the European Investment Bank (EIB). The successful investment fund was extended as the Sheffield city region waited on the £400m Northern Powerhouse Investment Fund (NPIF).

New figures reveal that investments by Finance Yorkshire have created or safeguarded more than 16,000 jobs in the region. Since its launch seven years ago, the SME funder has invested in more than 500 SMEs across Yorkshire and the Humber.

The figures show that Finance Yorkshire's investments have enabled those companies to increase their turnover by a total of £474m and attract a further £362m from other private sector sources.

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James Newman, chairman of Finance Yorkshire, said: "These figures demonstrate that Finance Yorkshire has more than delivered on its original brief to support SMEs and create jobs and economic growth.

"I am immensely proud of our team that has made this happen over the past seven years. Through their hard work and diligence, we have made hundreds of investments that have led to more employment and boosted the economic future of the region."

Alex McWhirter, chief executive of Finance Yorkshire, added: "These economic output figures demonstrate the success of the Fund and its performance in surpassing all expectations when we launched it in 2010.

"At that time, we started with a £90m fund and over the course of our investment period, because of our success, we were able to secure an additional 30% funding to invest for the benefit of the region's SMEs."

Earlier this year, Rotherham-based Specialised Laser Products (SLP) secured a £75,000 business loan from Finance Yorkshire as part of a funding package which has enabled the company to purchase the premises it had been leasing. Buying its premises on edge of the town centre has helped to secure the future of the business which is aiming to boost turnover.

Finance Yorkshire is now exploring future investment opportunities to utilise its legacy fund. McWhirter added: "There is still considerable unmet demand from SMEs for investment support to enable their businesses to grow and prosper. We are keen to look at what investment opportunities there are available to continue to facilitate the success of companies across Yorkshire and the Humber."

Finance Yorkshire website

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News: Specialised Laser Products focus on growth

Rotherham-based Specialised Laser Products (SLP) is targeting £4.5m turnover this year after investing in state of the art machinery and buying its premises on the edge of the town centre.

The company provides laser cutting services for a wide range of industries and has more than 500 clients nationwide. Working across a wide range of sectors, the firm uses ultra-precise methods to laser cut steel and aluminium sheet metal with the finest degree of accuracy.

A £75,000 business loan from Finance Yorkshire is part of a funding package which has enabled the company to purchase the premises it had been leasing.

Established more than 20 years ago to initially support the machine knife industry the firm now employs 29 people at its Canklow Road premises where investment has been made in the latest laser cutting machines.

Duncan Proctor, managing director at Specialised Laser Products (pictured, left), said: "We have been at Ford Park for the last 16 years and as we have expanded we have taken on further units and now occupy the entire site. Buying our existing premises helps secure the future of the business and keeps us at the same location which is ideal for providing our services to customers nationwide.

"The company's customer sectors include engineering, rail, construction and machine knives where it offers a range of materials including mild steel, stainless, aluminium, spring steel, tool steels, copper and brass.

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Duncan added: "We are always looking to improve our systems for the benefit of our customers. Our successful growth has been achieved through our commitment to delivering precision and quality products at all times."

Grahame Lunt, investment manager at Finance Yorkshire (pictured, right), added: "Specialised Laser Products is a successful and profitable business which constantly strives to deliver the very best service and products for its customers. Our investment has helped the company secure its premises and ensured the business and jobs are retained in Rotherham."

Finance Yorkshire's successful investment fund has been extended as the Sheffield city region waits on the £400m Northern Powerhouse Investment Fund (NPIF). Funding totalling £5m has been allocated to Finance Yorkshire by the Leeds City Region LEP and Sheffield City Region LEP, supported by their respective combined authorities. This follows the full investment of Finance Yorkshire's £113m fund in June last year.

Backed by investment from the European Regional Development Fund (ERDF), Finance Yorkshire provides seedcorn, loan and equity linked investments to help a range of small and medium sized businesses to meet their funding requirements for growth and development.

Specialised Laser Products website
Finance Yorkshire website

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News: SLP continues to grow at the cutting edge

Rotherham-based Specialised Laser Products (SLP), has moved to continental shift pattern and taken on more staff after experiencing a soaring market demand for its laser cutting services.

Working across a wide range of sectors, the firm uses ultra-precise methods to laser cut steel and aluminium sheet metal with the finest degree of accuracy at its premises on the edge of Rotherham town centre.

Following significant investment in new Bystronic laser cutting equipment and a marked upturn in the demand for laser cut steel and aluminium for industrial applications, the family-run business has moved to a continental shift pattern and now operates 24 hours a day, seven days a week.

Founded in 1995 to initially support the machine knife industry, SLP's customers now include all types and sizes of business from individuals to multi-nationals, and work ranges from cash machines and industrial catering equipment to carrot toppers and sword blanks.

SLP recognised that in order to grow the business and ultimately increase turnover, a fundamental operational change was required. The European 12 hour shift pattern, operating four, three man shifts allows the specialists to operate 24/7, increasing the throughput whilst maintaining the quality of cut required by their clients.

This has been further supported with the acquisition of new plant and equipment, including a third fork lift truck and a new 1.3 tonne flatbed vehicle. To ensure fast turnaround, SLP also have large stocks of sheet metal including mild steels, stainless steels, spring steels and tool steels.

The extra capacity also allows the company to compete on much larger jobs within the industry and still achieve the demanding lead times. The local job market has also benefited, with extra staff being employed to deal with the increased deliveries of sheet metal and the increased dispatch of the finished laser cut products.

Specialised Laser Products website

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News: Expert advice points Rotherham company in the right direction

An on-going relationship with the Manufacturing Advisory Service Yorkshire & Humber (MAS Y&H) has led to Rotherham based, Specialised Laser Products (SLP) becoming leaner and more efficient, investing in a £300,000 state-of-the-art laser cutting machine and expanding its range of services. Since MAS came on board six years ago to assist SLP, the company's turnover has risen from £500,000 to over £2m and the workforce has increased from nine to 17. Specialised Laser Products originally concentrated it's activities around the provision of precision cut blanks for the Machine Knife Industry and quickly earned an enviable reputation for high quality, reliability of service and competitiveness. The company now provides its services to a wide range of industries, including aerospace, building and civil engineering, electronics, fabrication, food and catering, general engineering and motor and surgical instrument sectors from their site in the Westgate area of the town centre. SLP's managing director Duncan Proctor said: "Thanks to MAS we are now "leaner and more efficient", which has resulted in the delivery of customer orders improving by at least 10% and defects have reduced by 40%. We have also improved our liquidity by reducing stock levels which, in turn, released much needed space in the factory. "We aim to make ourselves into a one-stop-shop for our customers as we now offer extra services including bending, punching and powder coating steel products."

SLP website
MAS-YH website
Rotherham

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