An award-winning County Durham manufacturer is set for expansion on the back of a £1.5m investment.
Newton Aycliffe based Roman Ltd – which manufactures, sells and installs shower screens, trays, bathroom furniture and fixtures and fittings – has received the funding from Finance Durham and the North East Development Capital Fund to support record sales demand.
The sum includes an £800,000 investment from the Finance Durham Fund, which is established by Durham County Council and overseen by Business Durham, and a £700,000 investment from the North East Development Capital Fund, supported by the European Regional Development Fund.
The package, which was arranged by Maven Capital Partners, will be used by Roman, which last week won a Queen’s Awards for Enterprise for International Trade, to support a significant increase in demand by investing in its 400,000 sq ft manufacturing plant with new machinery and materials.
The firm designs and manufactures shower products to trade merchants and independent retailers, while also supplying white-labelled, own-branded products to national retailers.
The business also has a special projects and supply-and-fit service that provides bathroom and shower design, alongside supply-and-fit solutions to house builders and hotel groups in the UK and overseas.
Roman initially launched 37 years ago to provide colour-coordinated glass screens to match bathroom colours. Since then, it has evolved into being the largest manufacturer of shower enclosures, wet room panels and bath screens in the UK and Europ, with a strong presence in over 70 international markets.
It supports an significant range of international hotel groups, architects and designers, including Berkeley Homes, Taylor Wimpey, Keepmoat, Miller, IHG hotels and Hilton.
CEO David Osborne said: “We find ourselves in a period of prolonged growth and expansion in the UK and internationally. This North East based funding allows us to focus on optimising some amazing opportunities and continuing to create sustainable long term jobs and careers in County Durham.”
David Nixon, senior investment manager at Maven, said: “Roman is a well-established business, with a good reputation and a strong order book. We are delighted to support such a high-profile manufacturing business in the North East and this is a great example of our regional funds working together to provide a long-term finance solution to enable a local business to grow. David and the team are highly experienced and knowledgeable and we look forward to working with them to help the business expand.”
Coun James Rowlandson, cabinet member for resources, investment and assets at Durham County Council, said: “It is fantastic that the funding we are providing through Finance Durham has enabled Roman to take advantage of the growing demand for their products, both nationally and internationally. As one of the longest established businesses on Aycliffe Business Park we recognise how additional funding will help create more and better jobs and contribute towards a strong competitive economy for the future.”Source: Business Live