A polymer technology company based in Calderdale, West Yorkshire, is gearing up to increase business nationally and internationally after receiving funding supplied by the Enterprise Ventures SME Loans Fund.
Rosehill Polymers Group supplies polymeric systems to a range of high-growth sectors, such as oil & gas, transport, and leisure. The company has achieved strong growth, increasing turnover from £16m to a projected £33m over the past five years. It has also completed several key projects, including expansion of its Head Office, and the installation of an additional production line to further increase capacity for its global rail business.
Originally founded in 1988 as a bulk producer of polymers such as urethanes, Rosehill has worked tirelessly to diversify its product offering. In addition to the core urethanes business, it now has five operating divisions within the Group: Highways, Offshore, Mouldings, Sports & Play, and Rail, which is currently the only manufacturer of rubber level crossing systems in the UK.
The loan, which totals £500,000, was invested via the Enterprise Ventures SME Loans Fund. The fund was launched in June 2015 and provides loan capital to established and growing SMEs nationally, but with a particular focus on the North West, Yorkshire and Humberside. At launch, the fund received £40m of investment from Great Manchester Pension Fund and Santander UK plc.
Dr Alexander Celik, Group Managing Director of Rosehill Polymers Group, said:
“This loan, alongside other loans we have received, has provided us with the oxygen of capital to expand our business. The business has nearly quadrupled in size since 2006, focusing primarily on high-value, high margin markets, whilst facing extremely challenging market conditions.”
Jonathan Craig, Investment Manager at EV Business Loans, a wholly-owned subsidiary of Mercia Technologies PLC, said:
“We have known the team at Rosehill Polymers for four years, and during this time it has exhibited market-leading growth across multiple sectors. They have a track record of tactically astute investments in capital, premises and markets, and this has been further demonstrated with the recent diversification of their services, which is now paying off in terms of new markets and increased profitability.”