£120k funding boost helps manufacturer expand
A business which specialises in products made from reclaimed rubber is expanding with a £120k loan from Merseyside Special Investment Fund (MSIF).
Safer Surfacing Limited uses rubber from recycled tyres to produce a range of rubber chippings and granules which can be laid loose or bound with resin into solid safety flooring.
Pictured (l-r): Jerry Scriven, Ian Glassbrook and Paul Humphray
The products are used primarily in playgrounds, landscaping, equestrian, patios, pathways and even chicken runs.
The Ellesmere Port-based business was established in 2012 by brothers Ian and Graham Glassbrook.
MSIF provided a £120k loan via the government’s Enterprise Finance Guarantee (EFG) Scheme. The money is being used to invest in new machinery, set up a second production line and buy more materials.
MC Vanguard Corporate Finance Director Jerry Scriven, who acted as advisor to Safer Surfacing, said the funding has charged up the firm’s manufacturing operation so it can capitalise on strong demand for its services.
“MC Vanguard was able to support the Safer Surfacing management team in a number of ways,” he said. “After carrying out a strategic review with the team we were able to pinpoint areas for the firm to generate an element of finance organically."
“Thereafter we helped Safer Surfacing to drive internal activities which ramped up production to a level which made the business attractive from a debt funding perspective.
“Safer Surfacing have put this funding to work by acquiring new equipment, creating sustainable jobs and investing in working capital thereby enabling the firm to truly capitalise on this opportunity now and for the future.
“The internal momentum gained during the process enabled the firm to tick off performance milestones at pace. From a funding perspective, this made the firm more attractive to lenders which crucially enabled us to secure debt based finance as opposed to the equity based investment originally envisaged thereby allowing our client to retain full ownership of the business.”
MC Vanguard supports firms looking to secure between £100,000 and £10million.