£420k funding helps Neo Granite grow
Neo Granite, which supplies, fits and cuts bespoke stonemasonry across the UK, has started growth plans after securing a £420,000 funding package from Lombard and NatWest.
The funding has been used to purchase a new state-of-the-art Sprint Line cutting machine, which will improve efficiencies and increase capacity.
West Bromwich-based Neo Granite is now the only company in the UK and the third in the world to own this industry leading machinery.
The support from Lombard and NatWest has also enabled the company to purchase new CNC and waterjet cutting technologies, which will further enhance its production line facilities.
Neo Granite recently relocated to a new 2,700 sq ft premises on Credenda Road, doubling its capacity and creating three new jobs in the process.
Founded in 2007 by owner Marco Pernes, Neo Granite has grown to become a £1.6 million annual turnover company, employing 14 members of staff. In 2015 Wendy Anderson joined the board and has been instrumental in the firm’s success.
“By becoming the first UK company to invest in this state-of-the-art machinery, we have positioned ourselves as industry leaders and innovators in our field. Funding from Lombard and NatWest will enable us to maintain our current growth trajectory which has seen us triple in size over the last three years," she said.
Paul Willetts, relationship manager at Lombard, said: “Neo Granite is the perfect example of a business investing in innovation. The funding package we have provided with NatWest will help Neo Granite capitalise on a wider market and realise its growth ambitions.”