An East Midlands printing firm has made a record investment – ten years after a management buy out at the company.
Streamline Press, based on Boston Road in Leicester, has spent around £2.6 million on new state-of-the-art press and finishing equipment with funding from Yorkshire Bank’s Leicester Financial Solutions Centre (FSC).
The firm, which employs 62 staff and turned over £6.6 million last year, is targeting increased productivity throughout the business after investing in a five-colour Heidelberg CX press.
The new press, which has replaced two machines, has been funded with the support of Yorkshire Bank business banking partner Paul Elliott and asset finance partner Steve Fox, who also helped Streamline buy the firm’s old Heidelberg press 15 years ago.
Streamline has also carried out a major refurbishment of an exisiting machine and both are now running off a new image control system and also under one roof.
Managing director Alan Squire said: “The new press will have a significant impact on our business and effectively allows us to do the same work on one machine as we did on the two older machines that we had, while the quality is exceptional.
“The more we looked at what the new machine could do, with the colour control and being able to bring the brand new press side by side with our exisiting one, the more we wanted it.
“The timing is right for us and this major investment will enable us to be more efficient and competitive for many years to come.
“It is also great for us to get all the kit under one roof, as before we had finishing equipment at our building across the road. This has not only helped bring the team closer together but also free up the second building for storage use.”
Squire, who led the management buy out of Streamline with senior partner David Hall and sales director Richard Dalby in 2001, said the company valued its long-term relationships with Heidelberg and Yorkshire Bank.
“We always knew we wanted to stay with Heidelberg due to its quality and the service you get from them and it’s exactly the same with Yorkshire Bank,” he added.
“We’ve enjoyed a long association with the bank and value their on-going support and the backing they’ve given us.”
Paul Elliott, a business banking partner at Yorkshire Bank’s Leicester FSC on New Walk, said Streamline has established a loyal customer base since being established in 1984.
He said: “Streamline serves a number of high-profile customers across a wide range of sectors and has been one of the leading printing firms in the Midlands for some time and it is great to see a Leicestershire company performing so well both regionally and nationally in a competitive market.
“Yorkshire Bank is delighted to be have funded the new press, as we were going back 15 years, and from watching it in full flow you can’t help but be impressed with the speed and precision it works at.”