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Jones AV set for International Expansion

Fund: Loans Plus

The firm is looking to double turnover thanks to investment from The North West Fund...

Jones AV builds high-calibre audiovisual solutions for hospitals and university medical faculties, supplying equipment such as cameras and medical video recorders, as well as surgical and radiology monitors. The hardware is for use during surgery to assist medical staff, and following an operation any footage can be integrated into patient data files.

Jones AV moved to purpose-built offices earlier this year after receiving a £250,000 loan from the North West Fund for Loans Plus using the finance to furnish its state-of-the-art showrooms with specialist medical audiovisual (AV) equipment. The new premises boasts a fully equipped operating theatre and AV suite, and is the most modern facility of its kind in Britain.

The firm's on-going commitment to driving expansion has resulted in the win of a multi-million pound contract to fit out 70 operating theatres across four hospitals in Norway. The job is one of the biggest of its kind in Europe, with Jones AV securing the contract ahead of major international competitors.

The loan will allow Jones AV to take on the necessary staff to tackle the project, and expand its sales and maintenance operations. The firm is now targeting similar opportunities in the marketplace. "At the moment there is an unprecedented boom in hospital building," said managing director Ingo Aicher. "During the recession, governments realised that hospitals are excellent spending projects and a means of kick-starting the economy, creating thousands of jobs. Hospitals are needed across Europe, particularly with the constantly ageing population, meaning that there is a great deal of activity for us to capitalise on.'

Established in 2008 with two staff and four part-time engineers, the firm is now expecting to recruit 10 staff and apprentices over the next two years, hoping to create a total of thirty jobs by 2018. In addition, the firm is looking to double turnover from £1m to £2m by the end of this year, predicting revenues of £5m in three years.

On working with The North West Fund, Aicher said: "When searching for funding we approached several banks and found the process difficult and unclear. In contrast, The Fund was supportive and accommodating, recognising the potential of the business and our ideas, and was keen to back our plans and ambitions.

"After securing the loan, the team also helped us to leverage additional investment, taking our funding total to £700,000. This will be invaluable to the business, allowing us to invest in our infrastructure to help us realise our aim of expanding into the European marketplace." 

 

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