Adhesives maker sticks with Rosebud for more funding

A FAMILY-owned Lancashire manufacturing company is set to create new jobs after securing a loan to boost growth.

Leyland-based Tilemaster Adhesives which makes tiling products,  has secured a £225,000 loan from Lancashire’s Rosebud Finance. It is the second round of Rosebud finance for the company, which was launched in Whittle-le-Woods near Chorley in 1990 by husband and wife team Paul and Rhona Kelly.

The first funding tranche in 2011 helped Tilemaster to relocate and set up its current factory on Tomlinson Road.
 
Since then, the business has continued to expand and it now also occupies the adjacent premises. However, with its products about to be listed on a major construction supplies website, it needs to increase capacity once again.
 
The latest round of funding will allow it to refit its premises and take on an additional seven staff in the year ahead, bringing the total number to over 30.
 
Rosebud is a finance package supporting Lancashire small businesses to grow and expand their business. It is managed by Enterprise Ventures, on behalf of Lancashire County Developments (LCDL) – Lancashire County Council’s economic development company.
 
Paul Taberner of Enterprise Ventures said: “Production is now regularly more than double the capacity achieved in its original premises. However the continued growth in demand means the company needs to increase capacity once again. This latest finance will allow it to step up manufacturing and continue its growth.”
 
Lancashire County councillor Niki Penney, chair of LCDL, said: “Rosebud supports ambitious businesses, which have clear growth plans. We previously helped Tilemaster with finance to help it relocate and we’re delighted to hear about its tremendous success since then.
 
“This successful family-owned business is looking to further expand and grow their business, and we’re pleased that it has once again approached Rosebud to help it get further success.”