Print firm secures £3.3 million growth funding
One of Britain’s leading print and design companies is planning further expansion from its base in Hertfordshire after securing new banking facilities from Clydesdale Bank.
Falkland Press, which began trading in 1976 and is currently based in Letchworth, specialises in litho and digital printing, finishing, design, print on demand, and direct mail.
The company has secured £3.3m facilities from Clydesdale Bank’s Business and Private Banking Centre in St Albans. The funding provided by the bank, which reflected a solid business plan supported by a loyal customer base and strong cash generation, was delivered by commercial relationship manager, Patrick Brennan.
Jon Lancaster, director at Falkland Press said: “This significant financial commitment will help us to extend our reach in a sector we have been established in for close to 40 years.
“This new support will help expand our existing operation through the purchase of a new unit to house additional printing machinery, which will allow us to expand our production line.
“Our current focus on growth would not have been possible without the support of Clydesdale Bank which has worked closely with our team to help us realise our ambitions.”
Falkland Press is expected to enter a sustained period of growth in the next five years with the company looking to increase its customer base. Falkland Press is a strong business with turnover in the last financial year of £3m with healthy profits.
In future, they are expecting strong annual growth of 15 per cent per year which, could create up to 25 posts created in the next three years.