A Nottinghamshire-based rubber products manufacturer has reported sustained growth after receiving a £250,000 loan from NPIF – Mercia Debt Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund (NPIF).
J-Flex provides innovative rubber solutions in over 50 global markets. It has expanded operations in sectors including electric vehicle manufacturing and public infrastructure after a sustained increase in order volume delivered strong organic growth for the business. J-Flex’s expansion follows the appointment of new colleagues to its senior leadership team immediately prior to the pandemic, which included Chris Barnes as Head of Finance; Damon Simpson, who has c.30 years’ experience in the rubber industry, as Head of Sales; and Chris Briscoe as Head of Technical and Quality.
This second-generation family business has been supplying industrial rubber products since 1984. Securing this funding has allowed J-Flex to capitalise on growth opportunities post-pandemic, and supported by the creation of three jobs, the business is now well placed to achieve both sustained organic growth and acquisitive growth objectives.
Andy Tyas, Investment Manager at Mercia, said:
“Sam and his leadership team exemplify the forward-thinking needed to ensure important businesses such as J-Flex experience the longevity and growth that they deserve. Understanding that debt finance can be as much a catalyst for growth as venture capital is has supported Sam to deliver this ambitious and achievable growth. We look forward to J-Flex’s continued success.”
Sam Kirk, Managing Director at J-Flex, said:
“As part of our vision and strategic plan for the business, we are targeting 3 areas of growth: organic, partnership and acquisitions.
Following the lifting of Covid-related restrictions, we have managed to secure several long-term contracts and partnerships with major clients in the electric vehicle and public infrastructure sectors, while discussions are underway with businesses identified as part of our acquisitions strategy.”
The introduction to J-Flex came from broker Adam Simpson of Silkstone Consultants who have been a strong partner to Mercia in Sheffield over the last three years. Adam in particular is certainly the most prolific introducer to Mercia in Sheffield, as he has introduced a substantial number of opportunities to us since 2019. Adam has a strong specialty in sourcing and placing invoice finance facilities, and has access a variety of funding providers across all streams.