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7th December 2020

DERBY MANUFACTURER SECURES £100K BOOST TO CREATE NEW JOBS

Derby-based manufacturer, Complexia, is set to expand and create seven new jobs following a £100,000 investment.

Complexia received the funding from First Enterprise - Enterprise Loans through the Midlands Engine Investment Fund (MEIF) backed by the Coronavirus Business Interruption Loan Scheme (CBILS).

The funding will be used to invest in new machinery and assist the business with its ambitious expansion, with plans to move into new markets and bolster its presence in existing ones.

Complexia is a specialist in manufacturing polyurethane (PU) – a type of plastic. The firm was originally established in 2006 to supply PU parts to the automotive sector. It has since diversified and is now the leading UK manufacturer of cast PU edged tabletops, supplying the education sector.

The firm is well established within the automotive, education and furniture sectors, supplying high profile clients such as Jaguar Land Rover. However, business owner, Tony Arnold, is now looking to expand Complexia’s product range and diversify into other markets using his PU prototyping and manufacturing expertise.

Tony Arnold, founder and owner of Complexia, said:

“In order to fulfil the growth potential of Complexia, we need to invest in new PU machinery and manufacturing facilities. The investment from First Enterprise- Enterprise Loans will be pivotal in making this happen and also puts us in a prime position to capitalise on new opportunities in the education sector as the government commits to building more schools over the coming years.

“The funding will also allow us to expand into sprayed PU edged tabletops, which are very popular within the educational furniture market at the moment.”

Sukhveer Chirrimar, investment manager at First Enterprise - Enterprise Loans, commented:

“We are delighted to be able to support Tony with his ambitious growth plans.  

“His vast experience and passion for polyurethanes have put Complexia at the forefront of the PU prototyping and manufacturing industry and it’s great to be able to assist them with their expansion and, in turn, boost the local economy in Derby.”

 Lewis Stringer, senior manager at British Business Bank, said:

“This latest investment into Complexia demonstrates the versatility of MEIF funding. It’s great to see this important source of finance being used by the region’s businesses to continue to diversify into new markets and also expand product ranges and service offerings during this challenging period.”

Sajeeda Rose, chief executive of the D2N2 LEP, added:

“I’m delighted to see the Midlands Engine Investment Fund supporting innovative and ambitious businesses within our region. It’s great to see Complexia getting the support it needs to continue and adapt so that it can contribute to the economic recovery and growth of our region.”

As well as being the leading UK manufacturer of PU edged table tops, Complexia are specialists in producing moulded PU foam seals and Noise, Vibration and Harshness (NVH) components for the automotive industry to improve vehicle durability and driver experience.

First Enterprise – Enterprise Loans provide government backed finance to businesses across the East and South East Midlands with lending starting from £3,000 to £250,000.

The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy (BEIS).

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

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MidsEngInv photo

#MEIF Small Business Loans can be used to support new product development, expansion projects and purchasing new equipment.

Find out more about the finance type here: https://t.co/jYDjBK5oLs https://t.co/cIlO7HsLrw
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Birmingham-based tele-optometry company, @EyotoOfficial, is set to develop new technology to enable remote eye tests following a £2.5 million funding round, supported by #MEIF and @Midven.

Find out more in @businesslive: https://t.co/djUD8wWvH5 https://t.co/Nl0hhVQIej
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The boost will support the full market roll-out of its food safety technology.

Read more on our website: https://t.co/UFTXQcQpSW https://t.co/CO3PwJJCgW
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Don't forget to subscribe to our newsletter for all the the latest investment news, insights and exclusive interviews.

Sign up on our website: https://t.co/bhaSJ3nvsT https://t.co/kxSnLTPulF
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