An East Midlands print firm is gearing up for expansion after investing in a major new piece of equipment with support from Yorkshire Bank.
Established in 1970, Frip Finishing in Hinckley specialises in laminations, coatings, hot foil stamping, decorative finishes and specialty papers and boards.
Frip Finishing has secured support from Yorkshire Bank’s Business and Private Banking Centre in Leicester. The new asset finance facility will support the purchase of a new foil stamping press and an additional industrial laminator which will both increase efficiency and support new product development. Working capital facilities will continue to support day-to-day cashflow requirements.
Leslie Gibson, managing director at Frip Finishing, said: “We are making a significant investment in new machinery which is aimed at consolidating our position as the leader in the UK decorative print finishing market.
“By embracing the latest technology and by seeking diversification through developing new markets, we plan to meet the future needs of our rapidly changing marketplace and in doing so ensure continued growth and opportunity.
“We would like to thank Yorkshire Bank for sharing our vision and helping the business to move closer to realising our long term ambitions.”
Frip Finishing grew from a business supplying luxury packaging to Scotch Whisky producers to become a recognised industry leader in all types of decorative print finishing now servicing the UK from six locations. The additional financial support will also be used to support new sales, marketing and customer relationship roles to maintain the anticipated growth.
Dave Simpson, Head of Yorkshire Bank’s Business and Private Banking Centre in Leicester said: “Frip Finishing is an established name with a strong track record supplying a niche product.
“We are proud to be able to support what we see as a strong business case and look forward to developing our existing relationship in the years ahead.”