Manufacturer expands into larger premises with bank support
– SFS Group requires further manufacturing floor space and securing new premises helps them achieve this
– Company will still remain and operate in Luton in conjunction with their Blackburn site
– RBS Invoice Finance provide working capital facilities to support the company’s ambitious plans to expand alongside a NatWest property loan
The SFS Manufacturing Group has moved into new premises in Finway, Luton to facilitate growth within the company and allow for further storage required. The premises move was jointly funded by RBS Invoice Finance and NatWest in a deal worth £830,000.
The new 14,000 sq ft factory premises will enable SFS to manufacture and fulfil demands for their silicone rubber products. SFS exports account for 60% of their sales in over 48 different countries worldwide and comprise of silicone hoses, gaskets, mouldings and compound which are mostly manufactured for the car industry.
The SFS Manufacturing Group Ltd was formed by the merger of Silicone Fabrication Services Ltd and SFS Performance Ltd in 2009, to form a company dedicated to the supply of silicone rubber products in various forms. The company will continue to operate from Luton in conjunction with their factory in Blackburn which manufactures extruded silicone sponge profiles. RBS Invoice Finance and NatWest collaborated on the latest round of finance to secure the new premises and assist with ongoing cashflow requirements. Together they have supported a fast growing company that employ 40 people across both sites and will assist the £2.2m turnover business increase their operational efficiency.
John Soanes, managing director at The SFS Manufacturing Group said: “I believe this a great time to invest in new larger premises when business confidence is on the rise and demands for our products is high. I am delighted to be able to drive the business forward and working in partnership with our banking partners at RBS Invoice Finance and NatWest has helped us achieve this.
“We are all moved in and fully operational at the new site at Finway. The relocation causes minimal disruption to our employees given we have chosen to remain in Luton. Exciting times are ahead and I look forward to the opportunities this will bring.”
Gary Waller, manager RBS Invoice Finance said: “RBS Invoice Finance is delighted to be involved in supporting the expansion of a UK manufacturing business. The enlarged premises gives them the capabilities required to grow the business and stay at the forefront of their competitive industry. I am pleased Sudha Panchal from NatWest and I could work in partnership to support John’s aspirations.”