Staircraft on the up after funding deal
A WEST Midlands manufacturer has stepped up its expansion plans after securing a five-figure investment deal to boost its plant facilities.
Staircraft, which operates from three sites in Nuneaton, Wednesbury and Coventry, is a provider of wooden staircases to major housebuilders across the UK.
It is currently undergoing a rapid expansion programme to extend its manufacturing capacity with a focus on bringing new innovations to market including the design and manufacture of I-Joist floors and decks.
The company has secured £210,000 through the Regional Growth Fund which was approved by the Coventry and Warwickshire Local Enterprise Partnership.
The Regional Growth Fund is a Government initiative that provides grants to SMEs looking to purchase new assets and create economic growth and local employment opportunities.
The cash injection is being used to install a bespoke manufacturing plant at its new factory base in Coventry, creating up to 50 jobs, and enabling the firm to expand its product offering and increase capacity.
Andy Hamilton, managing director at Staircraft, said: “We have a strong reputation for innovation and are very good in that area. We are continually challenging ourselves to re-think production and design and improve the overall end-to-end process.
“Our aim is to supply a floor with every staircase and address the demand for more rapid build technologies, leading to greater efficiency, reduced waste and reduced overall build cost. We have already received a great response from the market for our I-Joist floor and deck system which is offered as an integrated solution with our stairs.
Staircraft employs around 150 people and has a current turnover of around £10m. It is supported by regional accountancy and advisory firm Harrison Beale & Owen (HB&O).
Phil Ewing, director at HB&O, said: “We worked closely with Staircraft to identify new opportunities for investment which have helped to facilitate the company’s ambitious growth plans including the acquisition of new premises and machinery.
“Staircraft has already seen positive results as part of its expansion and we look forward to supporting the company as it embarks on this exciting new chapter in its history.”
