Blackburn business secures £100k NPIF funding
Lancashire-based business Pronar UK has received a £100,000 loan from NPIF-BFS & MSIF Microfinance, part of the Northern Powerhouse Investment Fund.
Pronar UK was incorporated in 2016, by founder and managing director, David Orrell.
It manufactures wheels for agricultural and municipal machinery, pneumatic and hydraulic systems, axles for trailers, trailer panels, as well as highly-engineered steel profiles and plastic components.
Pronar also offers a full range of agricultural and municipal equipment, together with a range of screeners for the re-cycling industry.
There are in excess of 300 products in the equipment range.
The company was established to take advantage of an opportunity to import the Pronar Sp. z o.o. Poland range of agricultural and municipal equipment.
Pronar Sp. z o.o. has a global presence, exporting to more than 60 countries, however, they had always struggled to compete in the UK market.
In February 2017, an open-ended agreement granting exclusivity to supply both agricultural and municipal equipment into the UK was granted to Pronar UK to become the only exclusive ‘national’ importer appointed anywhere in the world, and the only company allowed to use the Pronar name.
The £100,000 funding is being used to support numerous projects, including a move to larger premises, the creation of a greater capacity manufacturing facility and the purchase of additional equipment.
Pronar UK’s customers include Highways Scotland, North Yorkshire Council and Manchester Airport.
David Orrell said: “The support from MSIF has been a great boost for Pronar UK in moving to larger premises, as well securing investment for new machinery that will both increase production and help minimise lead times for customer orders.
“We look forward to working further with MSIF in the continued growth of the business.”
Andy Jones, investment manager at Liverpool-based MSIF, said: “I’m really happy we were able to support Pronar UK, it’s a great business with a lot of potential.
“The new premises will provide much needed space for showroom stock, and make a welcoming space for customers.
“With David and finance director Peter Knowles, I believe this business will be a great success. I look forward to following Pronar UK’s growth. ”
Cllr Phil Riley, Blackburn with Darwen Council’s executive member for regeneration, said: “Manufacturing is what we do in Blackburn and Pronar and its high quality manufacturing offer is yet another successful business operating in the borough.
“Blackburn With Darwen Council is delighted that the Northern Powerhouse Investment Fund has chosen to support Pronar and we look forward to hearing about its future progress.”
Sue Barnard, senior relationship manager, British Business Bank, said: “With a strong presence overseas, Pronar UK is a step ahead of a number of its competitors.
“Its focus now is to boost its production capabilities so it can continue to serve existing customers and secure new ones.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
