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25th October 2018

Cannock-based GHO Pressings eyes growth after MEIF funding

A Cannock-based metal pressing and tooling company has growth firmly in its sight after securing funding from the Midlands Engine Investment Fund (MEIF).

After receiving a £40,000 investment from MEIF, WM Small Business Loans, from fund manager BCRS Business Loans, GHO Pressings Limited is pushing ahead with plans to increase production - purchasing new equipment to bring its tooling arm of the business in-house.

Established in 2015, GHO Pressings Limited specialises in metal pressing and tool design and will be creating an additional two jobs at its base in Norton Canes to accommodate increased sales.

Carl Harrison, Managing Director of GHO Pressings Limited, said:

“Securing the loan from MEIF, through BCRS Business Loans, was pivotal in enabling us to progress with our growth plans, which will ultimately improve profit margins.

“Not only this, but we are creating two new full-time positions at the company, including an opportunity for an apprentice.

“We are proud to manufacture and assemble high quality pressings and tool designs, which is why we have continued to experience an increase in demand from new and existing customers right across the UK and beyond.

Louise Armstrong, Senior Business Development Manager at BCRS Business Loans, said:

“We are delighted to have funded the growth of GHO Pressings through the Midlands Engine Investment Fund.

“BCRS is a relationship-based lender and as soon as I met Carl and got to know the company, I was confident that the business had a very bright future ahead and was therefore happy to provide the business loan they needed to grow and create jobs for local people.

Grant Peggie, Director, at the British Business Bank, added:

“It is great to see that MEIF is supporting a growing business in the West Midlands which is known globally as a world leader in manufacturing. The British Business Bank is providing more choice to small businesses in accessing the finance that they need to grow and innovate.” 

Peter Davenport, Economic Partnerships Manager, at Stoke-on-Trent and Staffordshire Local Enterprise Partnership, said:

"We took an early decision as a SSLEP to support finance for small businesses which are the cornerstone of our economy and it’s good to see funding being used to support investment in small businesses. Staffordshire has a network of great companies and GHO Pressings is an excellent example of the creativity in local engineering firms. Our Growth Hub is providing direct advice to businesses and will be pleased to help and advise businesses across Staffordshire and Stoke-on-Trent."

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Follow @midsenginv

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Connect here: https://t.co/2ArDcrrsVn https://t.co/hp9ODpRYO2
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Read it in full here: https://t.co/4ndpsGsIGT https://t.co/Y5GUIIQwfl
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Read the full report here: https://t.co/NnfU2oqVQm https://t.co/2GGpUtmFaJ
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If you're looking to get your business ambitions off the ground, #MEIF's Proof-of-Concept equity finance can help realise your business dream.

Find out more on our website: https://t.co/JZXreSnJwq https://t.co/f3agCaiRTM
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Follow @midsenginv

Derby manufacturer @ComplexiaUK is set to expand and create 7 new jobs after a £100k boost from #MEIF and @1st_Enterprise.

Funding will be used to invest in new machinery and support the firm as it moves into new markets.

Read more in @insidereastmids: https://t.co/wBhDHDCOXi https://t.co/wcCOQx46lT
MidsEngInv photo

Stay up to date with the latest investment news, views and deals on our #MEIF LinkedIn.

Connect here: https://t.co/2ArDcrrsVn https://t.co/hp9ODpRYO2
MidsEngInv photo

In a guest blog for @pegasusfunding, @LewisGStringer discusses how the @BritishBBank and #MEIF are working to improve access to finance for small businesses in the #EastMidlands.

Read it in full here: https://t.co/4ndpsGsIGT https://t.co/Y5GUIIQwfl
MidsEngInv photo

The #MEIF has helped to create new job opportunities across the #Midlands as our Early Assessment Report reveals funding has been used to increase employment in 81% of recipient businesses.

Read the full report here: https://t.co/NnfU2oqVQm https://t.co/2GGpUtmFaJ
MidsEngInv photo

If you're looking to get your business ambitions off the ground, #MEIF's Proof-of-Concept equity finance can help realise your business dream.

Find out more on our website: https://t.co/JZXreSnJwq https://t.co/f3agCaiRTM
MidsEngInv photo

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