Builders and plumbers merchant OBAS UK is planning to expand the business after securing a six-figure loan.
The Lancashire-based company is using the loan from The North West Fund for Loans Plus managed by FW Capital to upgrade its Longridge headquarters and open a new trade counter to increase local sales.
In addition, the company will use the loan to develop its online presence and increase stock levels to boost its UK customer base with plans to broaden its range of own-brand products.
OBAS’s chief executive, Norman Tenray, said: “The key industries we supply have all been through tough times in recent years, but we’ve traded through this and built a sustainable business. We’re now ready to re-launch our vibrant brand and expand both locally and nationally.
“The loan from The North West Fund for Loans Plus has provided the capital we need to make our plans a reality. We’re opening up a new local trade counter, introducing key accounts as well as ramping up our online activities. We’ll also be taking on some new specialist staff.”
Originally a family business established over 25 years ago, significant investment in 2008 enabled OBAS to acquire four companies and grow into the business it is today.
Since 2008, OBAS’s management team has increasing the company’s supplier base and focused on brand development as well as service.
FW Capital senior investment executive, Andy Traynor, said: “Norman and his team have transformed OBAS since 2008 and the investment they’ve made in the business is paying off. OBAS now has an extensive, competitively priced product range and a reputation for superior customer service.
“Despite facing some difficult trading conditions over the last few years, OBAS’s sales revenues have risen steadily and today it has over 26,000 customers. The loan from The North West Fund for Loans Plus has provided the capital to implement the next stage of the company’s growth plan.”