New markets to result in job creation and business growth for Leeds’ Arctic Hayes

Leeds-based Arctic Hayes is set to hit the £6.5m turnover mark by targeting new markets with its portfolio of plumbing and heating products.

The company is a supplier of specialist safety, testing and servicing products to the plumbing and heating industry.

Arctic Hayes was launched two years ago after Hayes UK acquired Arctic Products in a deal financed by £1.2m of development capital from Finance Yorkshire’s Equity Linked Fund in partnership with Santander’s Breakthrough Growth Capital Fund.

Since Finance Yorkshire’s investment, Arctic Hayes has increased its workforce from 20 to 25 and is further recruiting this year for positions at its Beeston headquarters.

The business has also recently secured almost £1m of new business with an existing large merchant customer.

While the plumbing and heating industry remains the core of its business, Arctic Hayes is now promoting its products to the electrical, building and DIY sectors.

Karl Dallimore, managing director of Arctic Hayes, said: “Bringing our two established businesses together means we have developed strong brand recognition and it has given us the firepower in terms of our staff to target new markets.

“Product development is also a big focus for us in the next 12 months – we have employed a product development manager to develop products which we can add to our portfolio and take to existing customers.”

Karl and Arctic Hayes CEO Lee Parsons have recently appointed Steve Sutherland as chairman.

Steve said: “During my time with the business I have been impressed by the team’s ability to quickly turn a concept into practical reality. I’m delighted to be part of this dynamic team, and the scope for further growth is significant.”

Stephen Cardwell, portfolio manager at Finance Yorkshire, commented: “Our investment provided the catalyst for Arctic Hayes to establish the business in a single location in Yorkshire from where it has delivered new jobs and impressive growth in just two years.

’The Arctic Hayes management team is ambitious for further growth and its strategy to penetrate new markets and target international sales indicates continued strong performance by the company.“