A new era has begun for a Coventry manufacturing company with ambitious growth plans.
Exactaform, one of the UK’s largest manufacturers and suppliers of Polycrystalline Diamond (PCD) tools to the automotive and aerospace industries, has moved into its brand new, purpose-built premises on Prologis Park.
The 43,000 sq ft industrial unit, which includes office space, an on-site gym, and canteen, is the first step in major expansion plans for the company – which hopes to increase its headcount from 55 to 150 over the next five years.
The new unit was built after the firm outgrew its former site on Little Heath Industrial Estate.
The Exactaform management team decided to build a new unit when it became clear that there was a lack of suitable commercial space in the area.
The team, which is led by Jamie White and Peter Raynor, under the guidance of owner and founder John Inglis, enlisted help from law firm Wright Hassall and property experts at Shortland Penn + Moore (SP+M).
Jamie White said: “The new premises at Prologis Park mean that as a company, we now have the space to develop and grow over the coming years.
“We are extremely pleased with the resulting building and its clean, sharp edges reflect our products and the work we do within the industry.
“We would like to thank everyone who has helped to bring this project to fruition and keep us on track with our expansion plans.
“We will be celebrating our move with our partners with a number of opening events.”
Michael Hiscock, a construction and engineering lawyer and partner at Wright Hassall, provided specialist construction legal advice and support during the build process.
“Wright Hassall was pleased to support Exactaform from the beginning of the process to build the new site and help a successful company to move forward”, he said.
“It’s great that the company has been able to stay in the area and continue its investment in the city. It is this sort of partnership that helps to support the wider economy in the region.”
Initially, the building will be split into two, with Exactaform taking one side and the other 21,000 sq ft is available to let on a short-term lease through Shortland Penn + Moore.
James Compton of SP+M added: “We are now marketing the available 21,000 sq ft and it is a fantastic space for any business.
“It is positive news to see a company such as Exactaform building their own premises to accommodate their future expansion. It just goes to show how buoyant the economy is in the region, in spite of ongoing political uncertainty.”