Funding boost for lab furniture firm

A Hull-based manufacturer of laboratory furniture is set to expand its operations and workforce following a £100,000 loan from the Northern Powerhouse Investment Fund II (NPIF II), managed by Mercia Debt.

Lab Systems Furniture, which dates back to the 1890s and has evolved from school furniture manufacturing to become a trusted supplier for cutting-edge laboratories across the UK, will use the funding to move into a new 12,000 sq ft facility at Hull’s Sutton Fields industrial estate, enabling the firm to triple its current capacity, purchase advanced machinery and create two new jobs.

Geoff Lound, managing director of the firm, said: “Laboratory furniture is a specialist area. This year we have seen an upsurge in interest, driven in part by the increased number of science parks, and we have a strong pipeline of enquiries.

“However, the lack of workshop and warehouse space limits the work we can currently take on. The funding will enable us to move into bigger premises and remove the barriers to growth.”

Rebecca Pickering, investment manager at Mercia, added: “Lab Furniture has strong client relationships and a reputation for quality, but its current premises are holding it back.

“In some cases, manufacturing has had to be halted until the warehouse is cleared. The new premises will provide greater flexibility, enable it to compete in ‘off the shelf’ sales by manufacturing popular products in advance, and to expand its range with complementary lines such as classroom furniture.”

The firm specialises in high-specification furniture for leading universities including Cambridge and Loughborough, research institutions, and prominent names in the pharma and biotech sectors, such as Reckitt Benckiser, Indivior, GlaxoSmithKline and the Roslin Institute.

Operated by the British Business Bank, the £660 million NPIF II covers the entire North of England and provides loans from £25,000 to £2 million and equity investment up to £5 million to help a range of small and medium sized businesses to start up, scale up or stay ahead.

Lizzy Upton, senior manager at British Business Bank, added: “Funding from NPIF II is paramount to northern businesses like Lab Systems Furniture, supporting them as they expand their teams and premises.

“It is great to see businesses across Hull and East Yorkshire using NPIF II funding to grow and we’re pleased to see the fund playing a part in supporting this specialist sector.”

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