Family-run Foilco imports and sells hot stamping foil which is used in a specialist printing method and has secured a £750,000 loan to support its expansion. Tony McDonough reports
A second-generation family business that offers printing foil materials used in packaging for a range of industries, has secured a £750,000 cash injection.
Based in Lowton, Warrington, Foilco imports and sells hot stamping foil which is used in a specialist printing method where a dry, solvent free process transfers metallic effects to packaging.
The award-winning company supplies to customers in the food and drink, confectionery, cosmetics, and fashion industries. Clients include Charlotte Tilbury, Pukka Herbs, Laurent Perrier, Hotel Chocolat, Thorntons, GHD, Chanel, Gucci and Manchester Gin.
The cash has come in the form of a loan through NPIF – FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund (NPIF). The business was advised by Scott Monks at CKM Capital who introduced the company to FW Capital to assist with funding requirements to help the business expand.
NPIF – FW Capital Debt Finance invested £750,000 for working capital to support the business through a five-year development plan which will see significant year on year growth.
Foilco is run by brothers Paul and Matt Hornby and was established in 1987 by their father David. Last year the business reached a turnover of £6.3m and it is forecast to reach £7m this year.
Paul said: “Despite some challenges in the last couple of years due to Brexit and Covid, we have still managed considerable growth during the last 12 months. As a family business our reputation is everything and we need to deliver the highest quality to our customers at all times.
“The loan has enabled us to update our machinery, invest in our staff and recruit three new employees. We have also launched cutting-edge technology on our website that allows customers to see accurate digital images of what their end product will look like using our foils, helping us expand our global reach and increase our exports.”
FW Capital investment executive, Laura Rees, added: “Family-run and owner-managed businesses are the backbone of our economy and Foilco is a fantastic example of how a company that is run by truly passionate owners, can evolve and become a market leader.”