Quality Bearings l-r David Baggaley Connor Murray Gary Whitaker Samantha Ross Simon Riley.jpg — Pictured, from left to right, are David Baggaley, Leeds City Council economic development programme lead - who provided business growth advice to Quality Bearings Online; Connor Murray and Gary Whitaker, of Mercia Debt; and Samantha Ross and Simon Riley, of Quality Bearings Online

Bearings firm eyes growth with £500,000 support

A bearings supplier is charting a course for growth after securing £500,000 backing.

Quality Bearings Online has unveiled South American export expansion plans.

The blueprint follows support from NPIF II – Mercia Debt Finance, which bosses say will take the company closer to becoming “the number one choice for bearing supplies on a global scale.”

They add the funding will also allow the Leeds-based company to launch a new aerospace, defence and advanced engineering division and create three jobs.

The Queen’s Award-winning firm supplies manufacturing and engineering operators in more than 120 countries, with exports accounting for more than 90 per cent of its turnover.

It last year launched trade sales division QBOL World after buying the assets of bearings supplier Euro World.

Denny Maude, chief executive, said: “Our ability to quickly source products and deliver to customers worldwide has been key to our success.

“We are focused on continued growth and becoming the number one choice for premium bearing supplies on a global scale.”

NPIF II – Mercia Debt Finance is managed by Mercia Debt, as part of the Northern Powerhouse Investment Fund II (NPIF II), which is overseen by British Business Bank.

Gary Whitaker, of Mercia Debt, said: “Quality Bearings Online has been a pioneer in the industry, and its experienced management team has continued to drive the business forward.

“This funding will enable the team to move on to the next phase of growth.”

Lizzy Upton, British Business Bank senior investment manager, added: “It is always inspiring to see a Northern business expand its global footprint, and we're especially excited to see it tap into new markets across South America.”

The £660 million Northern Powerhouse Investment Fund II covers the North of England and provides loans from £25,000 to £2 million, and equity investment of up to £5 million, to small and medium-sized businesses.

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