Stonemason carves away at growth after new funding deal

A Black Country stonemasonry business is carving away at growth after securing a new funding package.

West Bromwich-based Neo Granite supplies, fits and cuts bespoke stonemasonry across the UK.

It is embarking on growth plans after securing a £420,000 funding package from Lombard and NatWest.

The funding has been used to purchase a new Sprint Line cutting machine, which will improve efficiencies and increase capacity. Neo Granite is now the only company in the UK and the third in the world to own such industry-leading machinery.

The finance support has also enabled the company to purchase new CNC and waterjet cutting technologies, which will further enhance its production line facilities.

Neo Granite recently relocated to a new 2,700 sq ft premises on Credenda Road, doubling its capacity and creating three new jobs.

Founded in 2007 by owner Marco Pernes, Neo Granite has grown to become a £1.6m-a-year turnover company, employing 14 people.

Wendy Anderson, who joined the board in 2015, said: “By becoming the first UK company to invest in this state-of-the-art machinery, we have positioned ourselves as industry leaders and innovators in our field.

“Funding from Lombard and NatWest will enable us to maintain our current growth trajectory which has seen us triple in size over the last three years.”

Paul Willetts, relationship manager at Lombard, said: “Neo Granite is the perfect example of a business investing in innovation. The funding package we have provided with NatWest will help Neo Granite capitalise on a wider market and realise its growth ambitions.”