Growth plans as £1.5million investment is confirmed
Camloc has set out its plans for growth today having secured investment from Foresight Group (“Foresight”). Foresight is a leading independent private equity investment manager with UK offices, in Nottingham, Manchester and London.
Camloc was previously owned by American investors and has sales of c£4m and employs 36 people at its Leicester manufacturing facilities. Sales and Marketing Director Andy Hubbard, Finance Director Julie Barker, and Engineering Director Matt Warne, have invested alongside Foresight. RBS have also provided a term loan and working capital facilities.
The experienced team are excited about the future, with new products already in development and plans for future growth of the business well underway.
“UK manufacturing is very much alive and kicking and the Foresight investment has enabled us to become a British-owned gas spring company for the first time in over 25-years,” said Andy Hubbard. “Over the years Camloc gas springs has become a respected brand in the market that stands for quality products and great customer service. We are proud to have such a solid business, international brand and quality product range on which to build. We are looking forward to a new and exciting chapter of sustained growth for the company based on the company’s well-established roots.
Tony Calvert, former Managing Director of Camloc, says that the time is right for the fresh approach that his long-term colleagues will bring to Camloc. Tony is now focusing his 50 years of business experience on non-executive directorships for various organisations, as he moves his career into consultative roles outside of Camloc.
“This is a great team. Andy, Julie and Matt have the industry experience and drive to develop the business even further and I’m confident the relationships we have built with Camloc customers, suppliers and colleagues over the years will continue to thrive,” adds Tony.
With the average length of service amongst its 36 employees being an impressive 13 years, the news of the investment has been warmly welcomed and supported by everyone in the business. And, while the message is very much ‘business as usual,’ the management team has made its ambitions for a bright future for the company clear from the outset.
Foresight’s Sebastian Saywood, who will join the Board as Investor Director, said “Camloc is an excellent example of a professionally-managed British manufacturing business with strong growth prospects. The Company provides premium products and market-leading service levels in its niche. We are looking forward to working with management who have impressed us with their expertise, professionalism, and ambitions for growth.”
Caption for photograph: L-R Julie Barker, Andy Hubbard and Matt Warne.