Laser cutting specialist secures future growth

31st January 2017

Rotherham-based Specialised Laser Products is targeting £4.

5m turnover this year after investing in state of the art machinery and buying its premises in South Yorkshire. The company provides laser cutting services for a wide range of industries and has more than 500 clients nationwide. A £75,000 business loan from Finance Yorkshire is part of a funding package which has enabled the company to purchase the premises it had been leasing. Finance Yorkshire is on the lookout for fresh investments following a £5 million injection of investment capital from Leeds City Region Enterprise Partnership (LEP) and Sheffield City Region LEP, supported by their respective combined authorities. Established more than 20 years ago by managing director Duncan Proctor, Specialised Laser Products employs 29 people at its Ford Park premises in Rotherham. Duncan said: -We have been at Ford Park for the last 16 years and as we have expanded we have taken on further units and now occupy the entire site. Buying our existing premises helps secure the future of the business and keeps us at the same location which is ideal for providing our services to customers nationwide. Specialised Laser Products recently invested in the latest laser cutting machines. -This technology combined with our profile cutting and CNC machining facilities enables us to provide an excellent service to the sheet metal industry, said Duncan. The company's customer sectors include engineering, rail, construction and machine knives where it offers a range of materials including mild steel, stainless, aluminium, spring steel, tool steels, copper and brass. Duncan added: -We are always looking to improve our systems for the benefit of our customers. Our successful growth has been achieved through our commitment to delivering precision and quality products at all times. Grahame Lunt, investment manager at Finance Yorkshire, said: -Specialised Laser Products is a successful and profitable business which constantly strives to deliver the very best service and products for its customers. Our investment has helped the company secure its premises and ensured the business and jobs are retained in Rotherham. Since its inception in 2010, Finance Yorkshire has invested in more than 470 companies, enabling those businesses to increase their turnover by a total of £470 million and attract a further £290 million from private sector sources. Finance Yorkshire investment has helped those SMEs to create and safeguard more than 14,000 jobs in the region. The £5m extension fund follows the full investment of Finance Yorkshire's £113m fund in June this year, which continues to create a significant positive impact on the Yorkshire economy. Finance Yorkshire provides seedcorn, loan and equity linked investments to help a range of small and medium sized businesses to meet their funding requirements for growth and development. The project is supported financially by the European Union. It has attracted investment from the European Regional Development Fund (ERDF), as part of Europe's support for the region's economic development through the Yorkshire and Humber ERDF Programme, UK Government and the European Investment Bank. Finance Yorkshire is also supported by the Regional Growth Fund. For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or call 0300 030 6060.