A Northumberland printing firm has invested more than £1 million in a new press as it moves to achieve the best results in its 140-year history
Potts Print (UK) Limited specialises in print, packaging and direct mail for sectors including retail, pharmaceutical, DIY, the NHS, creative agencies and the performing and visual arts community.
Customers range from international corporations to charities, public sector organisations and local businesses.Now it is investing in a £1 million Heidelberg printing press, supported by a hire purchase facility from Lloyds Bank Commercial Finance.
Originally founded in North Shields in 1875, Potts relocated to larger premises in Nelson Park, Cramlington in 2006 and has 160 staff. The company achieved revenues of £13.3 million in 2014, and the new investment is expected to help it achieve a record £15 million during 2015.
Finance director Steph Tobin said: “We believe in ongoing investment in order to keep us up to date with technology.“This new press is ultra-efficient. It should provide us with efficiencies in time and materials which in turn leads to cost savings. It also allows us to maintain our flexibility in terms of lead-times.
“It complements the presses that we already have and ensures we have all markets covered from digital to litho to large format.
“This is the first time that we have funded a capital investment through Lloyds.
They know our industry and our business and were able to offer an extremely competitive deal.”
Keith Bowden, Regional Manager, HP and Leasing, Lloyds Bank Commercial Finance, said: “It is fantastic to see this historic business thriving and investing in cutting edge technology to remain at the forefront of its industry.
“Potts is an ambitious, well-run business and Lloyds Bank is very happy to have supported its investment in growth.
“Hire purchase has become increasingly popular as firms emerge from the recession with a renewed confidence and look to make investments in key assets.
“It is a form of asset finance that allows them to possess and control an asset while paying instalments covering depreciation and interest to cover capital cost, ultimately achieving full ownership.”
Potts bought two new businesses during 2014 - North Tyneside-based Bakershaw Print and Cramlington-based Digital XL Services - but aims to focus on organic growth and integrating its new businesses during 2015.
The business - which also offers a direct mail, warehousing and fulfilment service - has a strong focus on sustainability and claims to have been the first Carbon Balanced Printing Company in the North of England.