Spring providing clear future for water firm
A BOTTLED water company which sources its water from springs in the North York Moors has secured £500,000 to increase production.
Springhill Water was established by father and son team Richard and Andrew Blomfield in 2000 as a diversification away from dairy farming which had historically been the farm’s main trading activity.
Up until then, the water was used to supply water demand for the farm and its enterprises and serve the nearby villages of Fylingthorpe and Robin Hood’s Bay.
However, the pair spotted an opportunity to source water from three natural springs located on the 200-acre farm in Fylingdales near Whitby.
Springhill Water is bottled on site and despatched on a daily basis. Following recent investment in its production line, 2008 has seen the firm increase its bottling capacity from 7,000 half litre bottles per hour to 10,000. It plans to increase production for 2008 from seven million to 16 million bottles.
The company has refinanced its banking structure to include a £500,000 working capital facility from The Royal Bank of Scotland to ensure it has funding in place to support its future growth plans.
Springhill Water is available in still and sparkling natural water in three bottle sizes and two bottle top options. The company also supplies an extensive range of fruit flavoured waters.
It is sold through regional, national and worldwide restaurants, leading supermarkets and retailers including Farm Foods, JTF and Bookers Cash & Carry to name but a few.
Richard Blomfield, director of Springhill Water, said: “The last 12 months has been a really exciting time for the company and we have seen a significant increase in orders. Bottled water is the fastest growing category in the soft drink sector and with more than 200 brands of bottled water available in the UK it is essential to have the right banking partner and necessary funding in place to enable us to grow.
The funding has been provided through Bryn Bates and Mark Heyes from RBS.
Mr Bates, relationship manager, commercial banking at RBS, said: “Springhill Water is a great example of a successful home grown Yorkshire company and we are delighted to welcome them as a new customer.
“The business is entering an exciting period and the funding structure that has been put in place provides the company with the necessary financial platform to continue the growth and build upon the success it has achieved. We look forward to working with them and wish Richard and the team the very best for the future.”
