Sheffield sensor manufacturer heats up export market with £50k investment

The UK’s largest manufacturer of temperature sensors is modernising its production facilities to capitalise on demand in the international market, following an investment from Finance Yorkshire.

Sheffield-based Labfacility, which makes sensors for industries including petrochemicals, pharmaceuticals, food, glass and aerospace, currently employs 70 staff with a turnover of just under £4m.

Finance Yorkshire has provided Labfacility with a £50k Business Loan, which will enable the manufacturer to replace old tooling and welding equipment, as well as assist with the recruitment of staff to meet customer demand.

Labfacility exports 70% of its products with customers in more than 80 countries, including Europe, the US and China. The manufacturer’s two largest customers are global distributors RS Components and Premier Farnell.

Martin Riddett, Managing Director at Labfacility, said: “We are conscious that our international counterparts are investing so we must keep pace. This latest investment will enable us to increase our welding capacity.

“We are also investing in staff and have recently taken on three apprentices.

“The support we have received has been hugely beneficial. Finance Yorkshire understands our business, they are able to move quickly and always look at the longer-term picture.”

Labfacility is also redesigning its e-commerce site, which offers same-day despatch and is responsible for an increasing share of sales.

Melanie Reynolds, Portfolio Executive at Finance Yorkshire, added: “We are impressed by the expansion of Labfacilty, which has increased sales in the UK and abroad and is creating jobs in the South Yorkshire area.

“We look forward to helping Martin and his team to expand profitably and increase their product range.”

Finance Yorkshire’s investments to date have created and safeguarded 10,196 jobs across Yorkshire and the Humber, increased turnover by £309m and generated private sector leverage of £179m.

Finance Yorkshire also provides seedcorn, loan and equity linked investments, ranging from £15k to £2m to help a range of SME businesses to meet their funding requirements for growth and development.