500k investment opens doors for Xander
Teesside start-up Xander Doors has welcomed over £500k investment to launch its new manufacturing facility and meet demand of the company’s already growing customer base.
James Clinghan of Trusted Business Partner, a North East based finance brokerage, secured £250k of funding for equipment for the business and introduced UKSE who brought a further £250k for working capital by way of a debt and equity package.
The company, which launched in October 2021, is predicting a turnover of over £1m within its first two years thanks to its niche in manufacturing high quality fire doors.
Ken Napper, Managing Director of Xander Doors, said: “Xander Doors has been born from over 27 years of experience within the door manufacturing industry, taking all of the knowledge and expertise we’ve learnt to start up a niche, hyper-focused company, in which we hope to scale and grow exponentially over the next 10 years.
“James Clinghan from Trusted Business Partner has been a long-term advisor within my businesses and when I knew we were looking for investment to purchase our manufacturing machinery and set up our facility, he was the first call I made. Thanks to the initial investment we’ve purchased state-of-the-art equipment and the joinery ancillaries we need to begin fulfilling our first orders.”
Within only a matter of months, Xander Doors has already achieved a number of accreditations including its Chain of Custody, Certifire and Q Mark certifications, helping to ensure optimum quality within its products and materials. With these accreditations, Ken predicts the business could be manufacturing up to 350 doors per week by April.
James Clinghan, Managing Director of Trusted Business Partner, said: “We pride ourselves on having long-standing relationships with our clients and were delighted to help Xander Doors.
“It’s fantastic when clients come to us with a clear focus on what they want to do and it’s my job to help their businesses succeed. It’s then down to us to work on a plan and a process for the company, secure the funding that they need from our trusted funding partners and ensure the process runs as smoothly as possible for both parties.
“We’d like to wish Ken and Sharon every success with their new venture and look forward to continuing our work with Xander Doors as they recruit and grow throughout 2022.”
Xander Doors will work alongside UKSE as a strategic equity partner. As orders increase the business continues to recruit from the local area and hire previous workers from the steel industry wherever possible.
Peter Taylor, Business Development Manager at UKSE, said: “This is a significant investment into a startup business, but Ken’s industry experience gave us the ultimate confidence that he’d be able to swiftly get both customers and suppliers on board.
“The company is already making strides forward and we’re looking forward to working alongside Xander Doors to develop a profitable, reputable business that works to create jobs within the local area. We’re looking forward to seeing what can be achieved in 2022.”
Mike McKenna, Director of Inspire Corporate Finance, who worked with Ken and Sharon in formulating the business plan, said: “The end result of the team effort between the various parties has ensured that the region has gained another quality business, which in time will prosper and create jobs for our local workforce. It was a pleasure to work with the directors, James from TBP and Peter from UKSE to get the investment over the line.
“I’m sure that Ken and Sharon will make a success of the business that they have created.”
This was posted in Bdaily's Members' News section by Trusted Business Partner .
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