Healthy expansion for Shropshire-based company
A UK medical supplies distributor has invested a healthy £2 million to expand its business to cope with a rising worldwide demand for its products.
SP Services (UK) Ltd based in Telford, Shropshire, is one of the leading suppliers in the UK of medical, first aid, ambulance, paramedic and rescue equipment.
It also supplies medical products around the world.
A move to larger 32,000sq ft premises will give the firm five times more space to stock supplies ready to be shipped anywhere in the world allowing the company to expand into new markets, said company boss Steve Bray.
“The business has grown rapidly in recent years. We are establishing a new office in Brisbane, Australia, as we wish to develop our international presence providing a one stop shop medical supply service which has worked so well in the UK.
“Despite the tough external environment in recent years, the needs of the Emergency Services worldwide and our commitment to satisfy those needs has not diminished in the slightest.
“I am totally confident that this major investment will deliver strong revenue growth for the business and look forward to serving all our customers both here and around the world for many years to come.”
Established in 1989 by Steve, a former St John Ambulance volunteer, the company has quickly expanded its medical supply business across Europe and the Middle East. Steve said “We have already established an office in 2011 in the Republic of Ireland and this year we have been working with a strategic partner in Dubai to establish a joint venture supplying the hospitals and emergency services in that region.”
With an annual turnover of £7 million, SP Services will increase its staff to 43 with an extra ten jobs being created in 2012.
“We have benefited from a diversified client base and supply medical equipment to everyone from Manchester United to the MOD,” said Steve.
“The chances are that if a soldier is treated for a trauma injury in Afghanistan, the medic’s kit will almost definitely contain supplies from SP Services which is very rewarding and brings a real sense of purpose to the business.”
He said that the timing of the investment could not have been better as the company would receive a £12,000 cash back payment from Barclays as the loan is eligible for the Government’s recently launched National Loan Guarantee Scheme.
“We are planning to use this cash back to contribute to the start up and administration costs to establish the new office in Brisbane, Australia which should be up and running by this July.”
Lee Clarke, Barclays Relationship Director said: “By giving our customers the full benefit of the NLGS on day one, they receive a lump sum of cash which they can put to use immediately to grow their business. We think this is more useful than drip feeding the value over the lifetime of a loan.
“SMEs are the lifeblood of our economy and we’re delighted to be part of a scheme that means we can offer this new initiative to our customers. Barclays is open for business, last year we beat our Project Merlin lending commitments to SMEs and I encourage any SME that thinks it would benefit from financing to come and talk to us. The funding is limited so we need to ensure as many businesses as possible are aware of and taking advantage of this new scheme.”
