Digital card business on growth path following six-figure NPIF II funding deal
A St Helens-based digital card manufacturer has received a six-figure investment to support its accelerated growth plans.
Company Cards, trading as Swype, will acquire a Hewlett Packard HP Indigo 7900 digital press and expand into green and renewable printing options with recycled PVC, board cards, wooden cards and PVC free cards as part of its growth strategy.
The funding is from NPIF II-FW Capital Debt Finance, which is managed by FW Capital as part of the Northern Powerhouse Investment Fund II (NPIF II).
It comes as the business experiences significant sales growth and sought investment to support its capital expenditure and working capital needs to allow it to accelerate and capitalise on this growth potential.
Swype is the UK’s original digital card manufacturer and pioneer of digital printing and supplier to the card trade industry.
It also offers a full range of print finishing services including lamination, varnishing, cutting, creasing, scoring, perforating, binding, taping and printing through Finishing Touch, its dedicated print services division.
Swype was the first to beta test a digital printing press for Hewlett Packard 25 years ago and is, today, a leading digital card manufacturer.
Swipe managing director and founder, Tim Scott, said: “We operate in a very capital-intensive industry and all the machinery we use is expensive.
“It’s important that we remain at the cutting edge and this investment enables us to achieve this, enhancing and increasing our productivity, quality and capacity.
“The new Hewlett Packard HP Indigo 7900 digital press will future-proof the printing side of the business for the next eight-ten years.”
He added: “We’ve swiftly installed the press, modifying the room with no disruption to the day-to-day operations which has meant our clients have been able to take advantage of this seamless transition.”
Barry Wilson, investment executive at FW Capital, said: “With this latest printing press Swype are continuing a relationship they have had with Hewlett Packard for over 25 years.
“Using NPIF II investment we’ve been able to provide working capital support to help Swype invest in the business, expand their offering and product efficiencies with this new printing press.
“It’s also exciting to hear about their plans to expand their eco-friendly card options, too, which is an area where demand is increasing. We look forward to following Swype’s progress over the coming months and years.”
Sue Barnard, senior investment manager at the British Business Bank, said: “The digital printing sector continues to evolve and it’s fantastic to see businesses like Swype leading the way with innovation and sustainability.”
