News: Wolf Components lay foundations for growth with HSBC backing

Wolf Components, a new start-up manufacturer based in Rotherham, has secured a multi-million-pound funding package from HSBC to support ambitious growth plans.

Rothbiz reported earlier this month that the company has taken on a unit at Waddington's Aldwarke Wharf speculative development in Rotherham having been established in Spring 2017 after owners Anthony Joyce and Stephen Baul spotted an opportunity in the market for British-made bed springs to supply British mattress manufacturers.

Anthony Joyce is the former managing director for UK and European bedding manufacturing at Steinhoff International (which operate the Bensons for Beds, Harveys brands in the UK), and Stephen Baul is a former executive at US manufacturer, Legett & Platt.

The pair approached HSBC for funding and have since been able to purchase manufacturing machinery for their Rotherham facility.

At present, the business employs 12 people but has ambitious plans to double its workforce over the next 12 months.

The funding will support Wolf Components' ambition to become a £13m turnover business within three years as it serves markets in the UK and Central Europe.

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Anthony Joyce, owner of Wolf Components (pictured, right), said: "Since establishing the business earlier this year we have focused on setting up a UK manufacturing base and understanding the requirements of our clients.

"The funding package from HSBC puts us in a great position to move forward with our growth plans, which includes increasing business across the UK and Europe and expanding our local workforce in Rotherham."

The deal was completed by Lee Manterfield, a relationship director in South Yorkshire Corporate Banking, Paul Bryne from HSBC equipment finance, and by Robert Watson, a managing partner at Gibson Booth, who acted on the client's behalf.

Mike Swift, area director for West and South Yorkshire at HSBC (pictured, left), said: "Wolf Components is a great example of the type of dynamic business we are delighted to support.

"The owners have considerable experience and knowledge of the market and have identified a great business opportunity, with strong potential for growth.

"We look forward to seeing their business thrive."

Wolf Components website
HSBC website

Images: HSBC

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News: Wolf Components aiming to lead the pack

Wolf Components, a new start-up manufacturer, has selected Rotherham to develop the production of mattress pocket springs in the UK.

The company was founded this year by industry giants, Anthony Joyce, the former managing director for UK and European bedding manufacturing at Steinhoff International (which operate the Bensons for Beds, Harveys brands in the UK), and Stephen Baul, a former executive at US manufacturer, Legett & Platt.

Taking on a unit at Waddington's Aldwarke Wharf speculative development in Rotherham, investment has been made in the new factory which houses all new, high speed, fully automatic machinery ensuring a high level of manufacturing efficiency.

Unit 60 is 24,200 sq ft and was marketed by Knight Frank in Sheffield. Evolving from a timber merchants, the Waddington's property portfolio was started approximately 80 years ago with the acquisition of a number of properties alongside South Yorkshire's canals network and was added to along the years with a number of investments and land acquisitions.

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The founders believe that with competitors being mainly overseas owned, there is an opportunity for a dynamic reactive business utilising the latest efficient manufacturing processes to deliver a quality product demanded by a growing market.

Aiming to supply the UK mattress industry, the first major contract is actually with Belgian firm, Latexco, one of the world's leading manufacturers of latex and PU foam components for the bedding industry.

A strategic partnership with Wolf Components has been formed as Latexco has ambitions to extend its innovative range of bedding comfort solutions to include latex, PU foam and now springs. The establishment of a pocket spring production company in Belgium, Latexco Springs, is scheduled to become operational next year.

Anthony Joyce, managing director of Wolf Components, said: "Having known Latexco and Luc Maes, owner of the Latexco group, for close to 25 years, it was a wonderful opportunity to work together and to develop a joint spring business across Latexco's exciting manufacturing and distribution entities in Europe, USA and Asia."

Wolf Components website

Images: Knight Frank

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