Manufacturer expands output after new funding deal

A Birmingham manufacturer is increasing productivity and expanding its product offering after securing a new funding deal.

Abcell, established in 1991, makes glazing products for suppliers around the UK.

A £650,000 funding package from Lloyds Bank Commercial Banking has enabled it to invest in specialist new machinery.

The Witton-based company, which has four sites around the West Midlands, makes a range of high-performance glass products including conservatory roofs, insulated units and bi-fold doors. It supplies more than 150 businesses across the UK.

The asset-based lending facility has enabled the firm to unlock capital tied up in existing assets to fund the purchase of two specialist graft welder machines from Italy.

The new equipment will enable the business to increase productivity and expand its range of products to capitalise on a rising demand for ‘warmcore’ bi-fold doors, which increase insulation performance and reduce fuel bills.

The £8m turnover business now expects sales to increase significantly over the next year. The new machinery has also helped create six jobs, taking the firm’s workforce to 61 people.

Paul Ford, managing director at Abcell, said: “This is a major investment for us and one that will help us to accelerate our growth over the coming months and years.

“We’ve banked with Lloyds for many years so they know our business well. The team quickly helped us to arrange the finance so that we could capitalise on the growing demand for high-performance glazing products from our customers across the UK.”

Mark Harnett, relationship manager at Lloyds Bank Commercial Banking, said: “It’s great to see specialist businesses like Abcell flying the flag for the Midlands’ manufacturing sector. Confidence in the region is strong, and more companies are looking for ways to take advantage of positive market conditions.”