Box maker expands creative team
West Bromwich box manufacturer Corrugated Box Supplies is further developing its product line after expanding its creative team, following the acquisition of a packaging design firm.
CBS, established in 1996 by Jitha Singh and his brothers, is a family-run business that manufactures corrugated boxes for storage and transportation use across a range of industry sectors from wholesale and retail to distribution.
It is based at a 160,000 sq ft building on a five-cre site on Brandon Way. The takeover of Essex-based Connect Packaging will take the CBS group's annual turnover to £25 million and see the business now employ 250.
A customer of Lloyds Bank Commercial Banking for over 15 years, the business turned to Lloyds Bank to secure an asset based facility to provide the working capital for the acquisition as part of the company's expansion plans.
The award-winning design team will now focus on developing an extensive range of corrugated boxes to further improve the quality and choice of products available to clients.
Managing director Jitha Singh, managing director at Corrugated Box Supplies, said: "We wanted to invest in the long-term development of our design team to ensure we continue to offer clients the highest quality product choices, and when we saw the opportunity to bring on the award-winning team at Connect Packaging we knew it was the right fit for our ambitions.
"Lloyds Bank has been extremely supportive of our expansion plans for a number of years where we have always had a strong relationship with our Relationship Director Mike Middleton. The Commercial Banking team helped provide the funding to facilitate the purchase of our premises on Brandon Way in 2012, and now the Commercial Finance team has helped us to generate the necessary cashflow to take this important next step in our growth plans."
Malcolm Clay, Regional Manager at Lloyds Bank Commercial Finance, who worked with Claire Carr on the deal, said: "CBS is a respected and innovative local manufacturing business with a management team that has the drive to succeed and create long-term success for the firm.
"This investment into both the development of its staff and ultimately the scope of its product range capabilities is testament to its growth ambitions."
