Mansfield and Worksop companies buy premises with NatWest support

Mansfield and Worksop companies buy premises with NatWest support

Three North Nottinghamshire firms - Acorn Signs & Engraving Ltd and Purpose Media Ltd from Mansfield - and Master Glass GB Ltd from Worksop are making large investments at the start of 2012 by buying their own premises after securing funds from NatWest and grants from the Regional Growth Fund.

Acorn Signs are specialists in custom made signs and also manufacture print banners and vehicle graphics. Purpose Media is a web design studio specialising in ecommerce and sage integration, primarily producing effective websites for clients who range from sole traders to large companies. Master Glass are manufacturers of sealed unit double glazing.

Acorn are purchasing their existing trading premises. Acorn operates from the Oak Tree Business Park in Mansfield. Both Purpose Media and Master Glass are moving to new premises. Purpose Media are moving into new larger premises just down the road at Keys Road, Somercotes, Alfreton - retaining all of their local staff. Master Glass are moving from rented premises into their new home at Albion Close, Worksop.

All three purchases have been funded by the North Nottinghamshire business banking team at NatWest. The deals all include traditional loan funding together with grants drawn under the bank's allocation of funds from the Regional Growth Fund. The Regional Growth Fund is a £1.4bn fund operating across England from 2011 to 2014 and supports projects that utilise private investment. The aim of the fund is to create economic growth and sustainable employment. Of the total amount available, the banks have been awarded £95m and the RBS Group of which NatWest is a subsidiary has been allocated £70m.

Speaking about their investments:

Andrew Plant, director at Acorn Signs & Engraving said: "This is the next stage in my business journey. I started out as an employee of the company, went on to buy it and have now secured the future by buying the trading premises. This gives us great confidence going forward this year."

Matt Wheatcroft, managing director at Purpose Media said: "To manage our growth effectively we needed new and larger premises. With the growth in online media continuing the move means we can add additional staff hires to both increase and improve our service proposition."

Mark Bowskill, director at Master Glass GB said: "We are a traditional manufacturing company and continue to trade well. Our order book is strong and we know the positive benefits this purchase and the move to owning our own premises will make to our trading operation."

Commenting on the deals, Ken Lawson, director, business banking for NatWest in North Nottinghamshire said: "The fact we are talking about these deals shows continued resilience in the local economy. All three are well run businesses, adding to their asset bases through these purchases, and all three are also geared up to grow further this year despite the continued economic headwinds."

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