A home and garden products manufacturer is expanding its product range and targeting overseas sales after moving its headquarters into larger premises.
IC Innovations has grown its workforce from four to 20 since it received a £50,000 investment from Finance Yorkshire in 2010 – one of the first investments made by the business fund.
Further investment from Finance Yorkshire and other lenders enabled the firm to buy a historic, three-storey office building in Attercliffe Road, Sheffield city centre, which was originally part of the Albion Works.
The company relocated their offices, design studio and showroom to the new base from Sheaf Bank Business Park in Heeley earlier this year and bosses are predicting further growth.
Managing director Tristan Cowell said: “In 2010, the banks weren’t so keen to provide facilities as our balance sheet wasn’t strong enough. The initial backing from Finance Yorkshire made a huge difference to our working capital. We are now repaying that confidence by growing as predicted.”
IC Innovations now supplies seasonal home, garden and gift items to major brands such as Homebase, Waitrose, Morrisons, Tesco and Sainsburys. With 50 per cent of turnover generated in the final quarter of each year, the business is already building product ranges for Christmas 2017 and has developed relationships with suppliers in Asia and opened a showroom in the Far East.
Tristan added: “Our new premises are a real step-up from our previous offices on a business park, where we ran out of space again having been in three different offices over the years.”