Partitioning manufacturer aims for £30m turnover after funding boost
A national internal partitioning manufacturer has it sights set on a £30m turnover target after securing a £4.25m funding package to support its growth plans.
Birmingham-based Komfort Partitioning divide spaces by designing and manufacturing internal glazed and solid partitions with integrated doorsets for clients including Unilever, Seabrook and Warwick University.
Following increased demand, it plans to develop new products, upgrade IT systems and invest in marketing with a target of boosting its £23m annual turnover by up to £30m in the next few years.
To support that strategy, the business has secured a working capital facility from its funding partner Lloyds Bank to help streamline its cash flow and give it the financial headroom it needs to focus on its growth plans.
Jim Smith, sales and marketing director at Komfort Partitioning, said: “We’re currently seeing lots of innovation in internal partitioning and it’s becoming more challenging to stand out in an increasingly crowded market.
“The funding from Lloyds Bank will allow us to develop our product and service offering and to further invest in our marketing to highlight Komfort Partitioning’s position as one of the market-leaders in our field.”
Marcus Carolan, regional manager at Lloyds Bank Commercial Banking, said: “Komfort Partitioning is a fantastic example of an ambitious business that’s striving for growth by investing in its facilities and new product development to stand out in the market.
“The Midlands has been a long-standing heartland for the manufacturing industry and we remain committed to supporting businesses in the region and future-proofing its thriving manufacturing sector. We recently extended our sponsorship of the Advanced Manufacturing Training Centre in Coventry and have invested an additional £5m to support the training of 3,500 apprentices, graduates and engineers.”
