Regional Growth Fund grant helps specialist manufacturer purchase premises
A SPECIALIST manufacturer based in Keighley has purchased its current premises with the support of a six-figure loan from Lloyds Bank Commercial Banking, in addition to a grant from the Regional Growth Fund.
Keighley-based SEBA Developments, which manufactures a range of specialist electrical process heating equipment for clients including Rolls Royce and Airbus Industries, has bought its premises at Keighley Industrial Park.
Martin Johnson, managing director of SEBA, said: “The purchase of our premises will be a real boost for us, saving us the cost of renting the building that we were already settled in and enabling us to focus on our growth plans.
“We have a portfolio of high-specification products and export markets offer huge potential for us to expand. We currently sell around 35% of our goods to overseas clients, and we are looking to increase that substantially in the coming year.”
Established in 1986, the Servicepower group currently has a £3m turnover, which it is looking to increase by 10% in 2015, as well as taking on additional staff to add to its 38-strong team.
The funding for the acquisition was provided under the Government-backed Funding for Lending Scheme (FLS), through which Lloyds Bank Commercial Banking offers customers a one per cent discount for the life of the loan.
Ben Kimball, relationship manager for Lloyds Bank Commercial Banking, said: “SEBA is an excellent example of a manufacturing firm that has managed to expand and grow in a highly competitive marketplace by offering world-class products, and this purchase is a real vote of confidence in the local area.”
