Lloyds Bank gives �200,000 boost to help award winning Fenland firm reach �3million turnover
A FENLAND firm which designs, manufactures and installs playground equipment is targeting a �3 million turnover next year after moving into new premises with the backing of its banking partner, Lloyds TSB Commercial. Established in 1981, Fenland Leisure P
A FENLAND firm which designs, manufactures and installs playground equipment is targeting a �3 million turnover next year after moving into new premises with the backing of its banking partner, Lloyds TSB Commercial.
Established in 1981, Fenland Leisure Products - who won Fenland Business of the Year in the Cambs Times/Wisbech Standard awards- supplies climbing frames, swings and slides to customers including schools and parks, and adult fitness equipment to the Ministry of Defence and private companies.
The business, which uses certified timber from managed forests, secured a 40 per cent increase in sales last year after investing in increasing its manufacturing capacity.
In order to support the company's expansion ambitions, it moved into new premises in July this year.
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The 50,000 sq ft facilities were purpose built using a �200,000 loan from Lloyds TSB Commercial.
In line with the business' green approach, the premises boast a number of green features, including rainwater harvesting, which supplies the firm's pressure treatment plant, vehicle washing and staff welfare facilities.
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A biomass energy system has also been installed and uses the company's waste timber to heat the factory, while an air source heat pump will warm its offices.
FLP is now preparing to begin exporting its products to Europe at the start of next year to maintain expansion and take turnover to �3 million, and is also working towards ISO9001 accreditation.
It recently took on a number of additional staff as part of its growth strategy, bringing headcount to 26.
Andrew Sparrow, managing director of FLP, said: "Our commitment to quality and ability to offer bespoke products to customers has generated rising demand so we've made considerable investments in capacity.
"Lloyds TSB Commercial's support has been crucial. As well as providing the funding we needed to build in new premises, they've acted as a source of guidance and a sounding board for our ideas.
"We're now in a strong position to target exports in order to drive continued expansion, confident that we have the backing of a banking partner who understands and shares our ambitions."
Steve Clarke, relationship manager for Lloyds TSB Commercial, said: "The businesses that are set to do well in the upturn are those that are able to secure an advantage over their competitors - and Fenland Leisure Products is a great example of a manufacturer which is building its green credentials to stand out from the crowd.
"It's great to see a local firm increasing sales, recruiting employees and proactively seeking new, overseas opportunities for growth.