Sustainable construction materials company Carlton Manufacturing has slashed production times by 99 percent with the help of a £1.2 million Finance Yorkshire funding package.
Rotherham-based Carlton was founded in 2011 by entrepreneur Max Smith, his brother Guy and financial director Chris Blaxall.
Cash from Finance Yorkshire’s Seedcorn Fund enabled the firm to develop an initial range of bagged products and start selling to independent builders’ merchants and timber merchants.
Now further investment from the Seedcorn Fund and Finance Yorkshire’s Equity Linked Fund has allowed Carlton to move to larger premises on Davey Road, inGoldthorpe and invest in state-of-the-art, automated bagging and palletising equipment.
As a result, Carlton has been able to radically change its manufacturing process, cutting the time it takes to make a pallet of one of its concrete mixes from 10 hours to seven minutes.
Chris Blaxall said: “Our sales are currently growing at a rate of 25 percent per month and we have increased our headcount from a standing start to more than 20 over the last 12 months.
“The investment from Finance Yorkshire was fundamental to us being able to grow in line with customer demand. The Finance Yorkshire team agreed with our vision and have been extremely supportive throughout the past year enabling Carlton’s significant expansion.
“We are hoping that with the long-term investment from Finance Yorkshire, we are able to double the capacity of our business again next year.”
Finance Yorkshire Seedcorn Fund Manager, Julian Viggars, said: “We are delighted with Carlton’s progress and development since our investment.
“We recognised that Carlton has developed a suite of innovative, sustainable, cement and concrete products that have similar, if not better, performance than traditional products but are still competitive on price. We continue to be impressed with their progress and hope to continue to support them for many years to come.”