Lockdown opens door to growth for Mansfield manufacturer
A Nottinghamshire performance doorset manufacturer is set to grow revenues by £2m this year thanks in part to a £400,000 investment in new machinery, backed by Lloyds Bank.
Integrated Doorset Solutions and its sister business Performance Joinery supply specialist doorsets to the healthcare, education, commercial and residential sectors and have continued to see significant growth.
The Mansfield-based firms have taken delivery of two computer-controlled machining centres, a superset moulder and a profile sander that will make their factories faster and more efficient, while also ensuring consistently high quality and improving health and safety.
The investment comes on the back of growing demand for its products, including fire and x-ray-proof doors, from the health sector.
Chairman Nigel Richmond said that the business had been so busy that a planned Easter shutdown had to be postponed.
He said: “The coronavirus outbreak meant many existing healthcare building projects have been accelerated and we’ve also been commissioned to work on new projects, including the temporary NHS Nightingale hospitals in Manchester and Exeter.
“These new machines will help us meet the increasing volume of work that’s coming in, as well as expanding the range of products we’re able to supply.
“We only started the business five years ago and within that time we’re really proud that we’ve been able to create about 250 skilled jobs, which is fantastic for Mansfield.
“We’ve got a very strong order book and the future looks really positive.”
Integrated Doorset Solutions was founded in 2015 and posted revenues of £19m last year, which is set to grow to £21m in 2020.
Performance Joinery was founded by the same team in 2019 to provide ancillary performance products like door frames, architrave, glazed screens and skirting boards, which it had previously purchased from external suppliers. It will achieve over £3m in revenues in its first year of business.
Lloyds Bank provided a £400,000 hire purchase facility to support the latest investment.
Lesley Williams, associate director, GTB Asset Finance at Lloyds Bank, said: “The team at Integrated Doorset Solutions and Performance Joinery have built an exceptional business with fantastic growth prospects in a very short space of time.
“They know this industry very well and have already won a diverse mix of customers from across the public and private sectors.
“Lloyds Bank is very happy to continue to support their growth. This investment will significantly boost their productivity and means they can bid for bigger and better jobs going forward.”