Home Tech Manufacturer secures seven-figure funding package to develop Staffordshire production site

Manufacturer secures seven-figure funding package to develop Staffordshire production site

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Manufacturer secures seven-figure funding package to develop Staffordshire production site

A vehicle cleaning products manufacturer has finalised plans for its new production site in Staffordshire after securing a seven-figure funding package from Lloyds Bank.

Autosmart International, which produces specialist washes, wheel cleaners and polishes for vehicles, has kitted out its 60,000 sq ft facility in Burntwood with new state-of-the-art automatic machinery.

Improvements to the site and an investment in new equipment is expected to support a threefold increase in sales, while reducing operating costs and minimising the plant’s impact on the environment.

It forms part of wider plans to develop the five-acre site purchased by the business in July 2020. This includes the construction of a new warehouse, which will increase warehousing capacity by 50 per cent, and the installation of overhead conveyor belts to efficiently transport goods between the production facility and the warehouse.

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Autosmart International operates a network of franchises in eight different countries, including France, Germany and Australia. Overseas sales currently make up 30 per cent of its revenue, and this is rapidly increasing, delivering three quarters of the firm’s growth over the past five years. It hopes that the new site will support its ambitions to tap into more opportunities abroad.

It currently employs 150 people in the area and intends to create more jobs as it continues to grow.

Sophie Atkinson, managing director at Autosmart International, said: “Over the last three years we’ve seen our franchise partners doing really well growing their businesses, leading to further demand. By investing in the site, we are ensuring we are prepared for further growth both in the UK and in other markets, where we’re continuing to grow our presence.

“We’ve banked with Lloyds Bank for nearly two decades and their support with this investment has been outstanding. They’ve been incredibly flexible in meeting our needs. We look forward to working with them as we continue our growth.”

Chris Pennick, relationship director at Lloyds Bank, said: “Autosmart is highly-regarded in the industry and is a fantastic example of a local firm that is flying the flag for the Staffordshire business community domestically and overseas.

“By investing in its production site, Autosmart is standing itself in good stead to continue to meet already-growing demand and expand their footprint even further. We’ll remain by their side as they do so and continue to support businesses across Staffordshire with international ambitions.”

https://www.business-live.co.uk/enterprise/manufacturer-secures-seven-figure-funding-23885524

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