Bevisol plans growth after new funding deal

DRINKS firm Bevisol is planning for expansion after concluding a funding deal to install new machinery at its plant in Herefordshire.

Bevisol, which supplies alcoholic beverage producers, has agreed a £250,000 deal with Lloyds Bank Corporate Markets.

The deal, which includes an asset finance facility and working capital support, will underpin the firm’s investment in new machinery, including the installation of a new waste water treatment facility, at its site on Bromyard Road in Ledbury.

Following a management buyout of the former Heineken-owned Universal Beverages site, Bevisol will continue the plant’s production of drinks including cider, perry and wine. The firm is led by managing director Chris Newall, a former director of Universal Beverages.

Bevisol has already created 11 new jobs and is on track to meet its plant capacity of 30 million litres per annum.

Mr Newall said: “The funding from Lloyds Bank has enabled us to start the business with confidence. We’ve been able to invest in new machinery which will improve our environmental credentials and reduce our overheads, without compromising our cash flow.  

“We already have a strong order book and want to develop long-lasting relationships with customers.”

He said he was fortunate as the bank understood its growth strategy and was prepared to invest in the business.

“It’s great to work with a bank that is supportive of entrepreneurial ideas and truly believes in the people behind the business as much as the business concept,” he added.

Alongside beverage production, Bevisol supplies a range of other services to the drinks industry, such as new product development and trial work. Through partner companies the business also supplies packaged products in glass bottles, plastic bottles and cans.
 
Mark Robinson, relationship director, Lloyds Bank Corporate Markets, said: “It’s great to see forward-thinking business people, such as Chris Newall and his team, establishing strong new businesses in the local area, despite the challenges of the current economic climate.

“We’re always keen to support businesses such as this one with the funding they need to grow and develop, and we’re looking forward to building on our existing relationship with Bevisol as it goes from strength to strength.”