Thermoseal Group seals financial deal with Barclays

Posted on 16 Dec 2013

The Birmingham based firm of components used in the construction of double glazed windows will be using asset finance to purchase additional premises, add production lines and expand its overall manufacturing capacity in the UK.

Established as a manufacturer of machinery for the production of double glazing in 1979, Thermoseal Group more recently added the distribution of glazing components to the business and is pleading to expand.

Changes to legislation relating to energy values prompted the company’s decision to manufacture energy efficient products, the first of which went into production in October 2010.

Gwain Paterson, Managing Director, said: “Now at the forefront of the glazing components market, we are continually developing new ideas to meet the current energy rating requirements.”

“These ideas are being engineered at our sites in Birmingham and Wigan. Our aim now is to look at growing our export markets where we are already seeing some early signs of success,” added Paterson.

The Birmingham business has approximately a 25% market share in the UK and is now implementing its export strategy having recently employed an Export Manager in Germany to be responsible for growing sales across Europe.

Richard Fray, Relationship Director at Barclays said: “They [Thermoseal Group] are a great example of a business who has continued to invest to accommodate future expansion.”

“This latest funding will enable the business to expand its production lines to meet growing demand for its products and implement its export strategy,” assured Fray.

This year, Thermoseal Group are predicted to see a turnover in excess of £22 million and have been seeing 10% growth year-on-year. In the past twelve months, the business has taken on an additional 29 staff, a figure claimed to be ‘set to grow’.