Funding deal aids manufacturer The Box Factory’s expansion plans
LEAMINGTON Spa manufacturer The Box Factory has invested in state of the art equipment after securing funding from RBS Group.
The firm manufactures a wide range of corrugated packaging products for a growing list of customers across diverse industries including manufacturing, IT, construction and automotive.
An undisclosed amount of funding from RBS’s asset finance provider Lombard and the bank’s transaction services UK team will allow the company to purchase new manufacturing equipment – a four-colour Flexo Folder Gluer machine – which will significantly increase its capacity and potentially open up new business opportunities.
Founded in 1991, The Box Factory now has annual sales of around £8.6m. It says it will be able to create an additional ten jobs following the bank funding.
Neil Price, the firm’s managing director, said: “This is the single biggest investment our business has made since we started operating 23 years ago.”
Guy Daniels, senior relationship manager at RBS, added, “This was a complex deal and one that required high level relationship management as an integral part of collaborating with the RBS partners involved.
“As a long-term supporter of the company and management team, I understood Neil’s business aspirations and brought the experts on board to complete the deal in a timely manner.
“Purchasing this new machine is just the starting point of an expansion blueprint for The Box Factory that they are set to implement over the next 18 months to two years.”
