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Hire Purchase and Regional Growth Fund - MBC Timberframe UK Ltd

Timberframe

MBC Timber Frame UK Ltd was established in 2002 in Cahir Co. Tipperary specialising in the design and construction of super insulated, high performance, affordable and passive timber frame homes throughout Ireland and the UK.  The company has recently set up a UK subsidiary in Gloucester to target the English market and this is where the new asset and new jobs will be located.

Expansion plans

MBC has grown significantly over the last 12 months and Managing Director Joe Blair expects the company to grow even more throughout 2016 with the acquisition of specific timber frame manufacturing machinery.  The machinery is quicker and more efficient than their current machine tools, which means they can increase their workload by taking on more jobs on a weekly basis. This will be key to the continued growth of the company.

The business couldn’t raise the required funds to pay the full deposit for the machinery, so Joe Blair met with Area Sales Manager, Liam Ryan at Close Brothers Asset Finance to discuss finance options.

“Crucial” for growth

Liam knew that the company would be eligible for support for grant assistance from the Regional Growth Fund as 5 jobs would be created on the back of the new machinery being purchased and installed.  He could also see that the purchase of the woodworking equipment would be crucial to the growth and development of the company throughout the UK.

Following a successful RGF application and the financial funding in place, Joe could now take the business forward with the plans for the UK subsidiary.  With the new assets in place, MBC will be able to reduce the time taken to manufacture the timber frame houses, therefore resulting in creation of new jobs and in turn generating increase revenue for the company.

Joe commented: “We couldn’t have taken the next step in our plans for expansion without the financial advice and support from Liam and the team at Close Brothers Asset Finance. 

The speed of the bespoke service we have received has made the whole process seamless. The newly acquired timber frame manufacturing machinery will allow us to ensure the highest standard of manufacturing is achieved for our clients.

As a new customer to Close Brothers, we look forward to working with them again in the future”.