Leigh firm Simply Bearings targets £10m turnover through overseas expansion

Simply Bearings, the Greater Manchester-based supplier of bearings, seals and mechanical accessories, has revealed plans to expand into Europe and the US.

After achieving a turnover of £4m in 2015, the family-run firm now plans to grow that figure to £10m over the next four years by focusing on overseas markets with support from the Business Growth Hub.

Founded in 2004 by two brothers, Leigh-based Simply Bearings has since secured contracts with a number of global firms, including drinks giant Coca Cola, tech company Dyson and aerospace business Bombardier.

Bob Dackiw, a business growth advisor at the Hub, worked with Simply Bearings’ directors to help them bring a renewed focus on new markets and exports to the business.

Bob also introduced the directors to UK Trade & Investment (UKTI), which helped Simply Bearings develop an export strategy and improve their website’s functionality for customers based overseas.

Simply Bearings’ director and co-owner, Dan Makin, said: “We wanted to grow our exports further into European and North American markets, while continuing to provide excellent customer service.

“Currently we have contracts across North America, Ireland, Italy and Germany, and we aim to strengthen our presence even further in these markets.

“Our work with the Hub and UKTI has been essential to our overseas development.”

He continued: “They have made vital introductions that have helped to move the business forward and the advice from industry experts has boosted our online progression and provided essential training to our workforce. We are looking forward to continuing our work with the Hub as we target £10m turnover in the next four years.”

This week, the Business Growth Hub was announced as one of several organisations delivering a new £9.5m export fund for businesses based in Greater Manchester.

https://bdaily.co.uk/finance/21-03-2016/new-95m-fund-to-boost-exporting-and-jobs-in-greater-manchester/

Commenting on Simply Bearings’ growth ambitions, Hub advisor Bob Dackiw said: “Simply Bearings is the leading provider of bearings and oil seals in the UK and a fantastic, rapidly growing family business.

“Partnering with universities and academics has enabled the owners to step back from the business and focus on developing a new range of products.”

He added: “Attending our masterclasses and working with UKTI has provided the firm with the knowledge to drive growth through exports and we will continue to work closely with the company as it continues to target international markets.”