International growth goal for LBS Worldwide

A LANCASHIRE manufacturing company with a strong commitment to helping fund sustainable water projects, has plans to more than quadruple sales to £45m by 2020.

Colne-based LBS Worldwide, which trades as Fresh2o Global, has signed a new banking deal to help it expand internationally and therefore grow sales.

LBS, which has 66 staff and annual sales of £10m, wants to become a  leader in the manufacture and distribution of environmentally-friendly products and to help save millions of lives through helping to fund water schemes.

It has switched its business banking to HSBC in anticipation of its international growth, and secured a significant trade finance package. The firm is working on selling its products into the US, India, Pakistan, Africa, Middle East and Europe.

LBS’ range of products are primarily around water-based industries and include porous pipe, a soaker hose manufactured by the company since 1993, and a range of horticultural products.

It recently acquired the intellectual property rights of a marine anti-fouling coating, Aquacote, and also sells a comprehensive range of specialist marine cleaning products. It also acquired Suparange, a power shower that works in low-water pressure areas and which will be targeted at emerging markets.

It has secured the trade finance facility, along with day-to-day business banking products, in a deal led by HSBC’s senior commercial manager Rachel Sault.

The company was founded in 1969 and began supplying horticultural and gardening products to UK garden centres. It is now looking at setting up manufacturing sites in emerging markets.

Julie Griffiths, LBS Worldwide chief executive said: “We have very ambitious global expansion plans in place and it was important that we partnered with a bank that would be able to support these plans now and in the future.

“We are very excited by the brands we have developed. Aquacote has been developed for the leisure boat market and is genuinely different to what is available currently as it is completely biocide-free, whilst Suparange is an ideal range of shower products for low water pressure areas and will be a great solution for emerging markets.

“We are seeing a strong demand for our products across all global locations due to their competitive pricing, USP and excellent environmental credentials.”

HSBC’s  Rachel Sault added: “LBS Worldwide is a great example of a traditionally UK-focused business that is looking to develop and grow by taking advantage of opportunities in global markets. It has successfully developed a diverse range of products that appeal both at home and overseas and HSBC is in a strong position to support the company’s international growth plans.”

The company has aligned its operations with the celebrity water foundation, www.fresh2o.org as part of its corporate social responsibility programme.

Close