The next stages of a specialist north east construction firm’s development are set to be built on a second investment from the Finance For Business North East Growth Fund.
Aartoft Limited is the UK’s only producer of lightweight concrete pre-fabricated bathrooms, which have long been widely utilised in the Scandinavian construction industry for projects ranging from hotels, student accommodation and nursing homes through to apartment buildings and social housing.
Set up in 2012 by Scandinavian husband and wife team Niels Sandahl and Helle Dräger-Sandahl, the Lynemouth-based firm has built a strong customer base both in the UK and in Denmark.
In mid-2013, the first phase of Aartoft’s development plans were backed by a £300,000 investment from the Finance For Business North East Growth Fund, which is administered by regional fund management firm NEL Fund Managers.
And now, the Aartoft management team has turned once again to NEL for a further £200,000 Growth Fund investment, which they have secured with the support of Ryecroft Glenton Corporate Finance.
Niels Sandahl, who settled in the north east four years ago, said: ”The cost, efficiency and quality benefits that our products and way of working offer have quickly become clear to our growing customer base, and we’re beginning to realise the huge potential that we believe our products have in the UK.”
For more information about NEL’s investment criteria, visit www.nel.co.uk or contact the investment team on 0845 111 1850.
The ERDF 2007-13 programme is bringing over £300m into North East England to support innovation, enterprise and business support. It will help create and safeguard 28,000 new jobs, start 3,000 new businesses and increase the region’s productivity by £1.1bn per annum.