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09 September 2013

Spotmix looks to the future with funding from The North West Fund for Loans Plus

Press Release 9th September 2013

Spotmix, the Bootle-based commercial waste management and recycling company, has secured a £100,000 loan from The North West Fund for Loans Plus, managed by FW Capital.
 
Having recently opened a new £1.5m automated recycling facility; the loan will allow the family run business to employ additional staff at the new facility and will also fund its sales campaigns to win new third-party waste management contracts.
 
The company currently recycles 95% of the waste it processes and its new facility has the capacity to handle up to 75,000 tonnes of waste a year.
 
The company's lorries have been a familiar sight on the North West's roads since David and Lyn Tiplady established Spotmix in 1985.  They started supplying ready-mixed concrete before diversifying into skip hire and then expanded into waste management and recycling.
 
Commenting on the loan from The North West Fund for Loans Plus, Managing Director, David Tiplady said: "We've expanded Spotmix over the years by identifying lucrative new market opportunities and this strategy has now led us to expand the recycling side of our business.  Investing in our new recycling facility is a major step forward for us.
 
"The loan from The North West Fund for Loans Plus has provided us with the backing we need to maximise the potential of the new facility.  We've been able to recruit the staff we need and also ramp up our sales efforts to secure new contracts."
 
Since opening the facility, Spotmix has signed waste management contracts with Alder Hey Hospital and Liverpool 2 Docks, with more in the pipeline.
 
Simon Berry, Senior Investment Executive at FW Capital, said: "Thanks to the Tiplady family's long-standing ambition and commitment, Spotmix is a well-established, progressive and resilient business.Their organic growth strategy has paid off as the company has consistently increased its market share over the last thirty years.
 
"The loan from The North West Fund for Loans Plus has provided them with the working capital they now need to exploit a lucrative new market."
 
The £45m North West Fund for Loans Plus is managed by FW Capital and can lend between £50,000 and £750,000 to North West businesses. It is part of the wider North West Fund, financed jointly by the European Regional Development Fund and the European Investment Bank.

  


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