An expanding Warwickshire printing company has invested in two state-of-the-art machines and moved premises.
XPD Print Limited needed to replace its old printing press with more modern and efficient models.
Owner Colin Jones contacted the Coventry and Warwickshire Local Enterprise Partnership (CWLEP) Growth Hub for advice on how to apply for a loan and he was introduced to the Coventry and Warwickshire Reinvestment Trust (CWRT).
This led to the business receiving £28,000 from the Duplex Investment Fund, which is a combined grant and loan, and is an initiative between the Coventry and Warwickshire Local Enterprise Partnership (CWLEP), Warwickshire County Council, Coventry City Council and CWRT.
The project is being funded by £3.9 million of grants from the Government’s Local Growth Fund and the CWLEP. Coventry City Council and Warwickshire County Council are each investing a further £2 million in the scheme which is managed by CWRT.
Following the investment exceeding £30,000, Colin is now the proud owner of a Robust Digital Press and an automated digital Die-Cutter and Creaser.
Having traded for eight years, they are now situated in XPD Print’s new home at Manor Farm in Hunningham Road, Offchurch, Leamington, after moving from their base at Stockton Hall Court near Southam.
He said: “We are a digital print firm which amongst many other things undertakes lamination and foiling in-house and we concentrate on producing high-quality bespoke embellishment work.
“The Robust Digital Press enables us to print to a much larger format than our previous one as well as being significantly quicker and the quality is better so we are providing a greatly improved service to our clients.
“We also decided to invest in an automated digital Die-Cutter and creaser, the VeloBlade, from Vivid Laminating Technologies Ltd. This allows us to offer many additional products and services including packaging and point-of-sale, giving us the platform we need to grow the business.
“It has meant we have been able to keep more services in-house so we’re more in control of deadlines and we have been inundated with work from across the UK.
“We have also started printing sewing pattern boxes and envelopes which has become a serious amount of work.
“This new equipment enables us to increase volumes and we’re confident with the quality and service that we’re now able to offer because the machinery enables us to respond more quickly and we can offer a wider range of printing requirements.
“During lockdown, we moved the business from 350 sq ft premises near Southam to a 600 sq ft unit in Offchurch.
“We now have separate offices, workshop and kitchen and it is a much better working environment.
“We really appreciate the money from the Duplex Investment Fund and the help of Jon Bass from the Growth Hub. He has been really supportive from our initial conversation to getting the loan and he has introduced me to a network of other businesses which has already generated work.”
Andrew Scarborough, of CWRT, said: “It is a pleasure to be able to help local businesses like XPD to develop, especially with all the pressure being felt during the pandemic. CWRT currently has funding available to assist local businesses with loans via the Duplex Investment Fund as used here and the government backed Coronavirus Business Interruption Loan Scheme (CBILS). This means we can offer support for capital expenditure and cash-flow where it is needed.
“Our knowledge of the local area and economy means we can be more flexible than many other lenders.”
Warwickshire County Council leader Cllr Izzi Seccombe said: “The Duplex Investment Fund is an excellent collaboration by partners in the region to support local businesses and we were pleased to support it with a £2 million investment.
“XPD Print Limited is a prime example of an impressive, forward-thinking businesses which needed to expand and I am delighted that support from the Duplex Fund has enabled them to invest and grow towards a successful future.”
Jon Bass, account manager at the CWLEP Growth Hub, said: “It has been great working with Colin to raise the finance to help his specialised business grow.
“The whole process was straightforward despite the impact of Covid-19 and Colin is due to employ one full-time employee and another part-time to cope with their rising demand for orders since installing the new machines.”