West Yorkshire based designer and manufacturer Platinum Stairlifts has received an investment from private equity firm NorthEdge Capital, to help its plans of global expansion. It will use the grant to invest in new product development, enhance its proposition for distributors, and further strengthen its presence across international markets.
The reason I chose to work with NorthEdge is that they developed an impressive track record of supporting high growth manufacturing businesses in the region, making them the ideal partner for us, said Tim Frear, founder at Platinum. In the coming years, we hope to enhance our position as the preferred supplier for stair lift distributors by continuing to do what we do well – make great products and provide the highest levels of service to our distributors.
The business is based in Keighley and it employs over 100 staff and distributes to over 40 countries worldwide, including France, Germany, the Netherlands, and the US. Its revenue has increased by 20% year on year since 2012.
NorthEdge are really looking forward to working with Tim and the Platinum team. Platinum is well positioned to accelerate its recent growth in the global stairlift market, a market that looks set for long term expansion underpinned by robust growth drivers, said James Marshall, investment manager at NorthEdge Capital. Our investment will support the strategy forged by Tim and the team, which will see continued product development, expansion of the businessâs international reach and investment in the operational platform to drive growth.
With this grant, Platinum Stairlifts will be able to accelerate its growth plans in the stairlift market. Together with its high quality products and its focus on providing excellent service to all of its distributors, Platinum will definitely see even more success in the years to come.
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