UP to 20 new jobs will be created at a refrigeration manufacturer following a contract win with one of the world’s biggest coffee companies.
Booth Dispensers, based in Moor Park Drive, Bispham, is set for a huge sales boost following the deal with the firm, which does not want to be identified.
The firm, which boasts 85 employees and is a major exporter, secured a £1m working capital facility under Yorkshire Bank’s Investing for Growth package to help it service the new contract.
Phil Elliott, managing director of Booth Dispensers, said: “We’ve almost doubled in size since 2009 and we’re predicting a similar level of growth over the next two years, so this funding package is vital to support our working capital requirements.
“We make all of our products here in Blackpool, which gives us total flexibility and no reliance on third parties, and I believe this has been a major factor in our recovery, giving us the edge over our competitors.”
It is a huge turnaround in form for the firm, which makes a range of water dispensing chillers and vending refrigerators
It was hit hard when the recession began and the business downsized considerably as sales fell. However, significant investment in research and development has enabled it to launch new products and the business is on target to hit a turnover of £6.5m in 2011, up from £3.6m in 2009.
The company’s new contract will see it supply around 20,000 refrigerators a year to provide coffee machines with freshly chilled water.
As well as its UK business, Booth Dispensers exports – mainly to Europe – but its products are supplied indirectly to almost every world market. The machines are used in a range of applications from vending, coffee machines, water and soft drinks dispensers, and in the brewing sector to keep beer cool.
Andy Nurse, business partner at Yorkshire Bank’s Preston Financial Solutions Centre, which provided the funding, said: “Booth Dispensers is a fantastic example of how a business can respond positively to recession by developing and growing new markets in difficult conditions.
“Through innovation and hard work the company has secured a bright future.”
Yorkshire Bank introduced its Investing for Growth package in 2010. It offers a dedicated business planning service and flexible approach to investment finance to enable businesses to invest in quality growth opportunities.