Skip to main content

Regional Growth Fund & Hire Purchase - Just Digital Ltd

Regional Growth Fund & Hire Purchase - Just Digital Ltd

A digital print firm enjoying rapid expansion

Founded in 2003, Just Digital Ltd is a specialist print company offering a wide range of services, from digital print and web design to large format displays and order despatch.

Based in Huntingdon, Cambridgeshire, the business started as a one-man operation and has experienced constant growth over the last 12 years. The firm now employs over 100 staff and occupies more than 43,000ft of office space at their headquarters.

New premises offering more space

To accommodate the company’s constant expansion, Just Digital recently moved into new, larger premises.

The move was designed to create space for a number of new machines that they weren’t previously able to fit into their old offices, equipment that would allow them to offer a much wider range of innovative services in house.

To ensure there was no shortfall or reduction in their output while they made the transition, Just Digital sought to acquire three Duplo machines. These machines would not only cover their existing contracts in the short term, but would also create three new permanent jobs at the firm.

Just Digital required funding for this new equipment, while they also planned to seek finance for a number of larger machines once the move was completed.

A quick and simple financial solution

Having made contact with the manufacturer of the new machines, Just Digital were referred to Close Brothers Asset Finance, who have a team of print industry specialists and significant experience in this kind of funding.

Following a meeting with Just Digital, Close Brothers Asset Finance identified that the firm was eligible for a grant from the Regional Growth Fund (RGF).

They guided Just Digital through the application process and successfully won a grant towards the cost of three new Duplo machines, while Close Brothers Asset Finance also put a hire purchase agreement in place to cover the outstanding balance.

With these machines in place, the company was able to manage their migration to new premises while still fulfilling key contracts.

Then shortly after their move, two of the larger machines they sought to acquire, a Fuji Accuity ink jet press and Kongsberg cutting table became available at a much-reduced price.

Having already successfully put the first agreement in place, Just Digital again turned to Close Brothers Asset Finance to help fund the new machines.

Following a second application to the RGF, a further grant was awarded towards the cost of the Fuji and Kongsberg equipment, while a second hire purchase agreement was also quickly put in place.

New products, new services, new jobs

After successfully completing their move and with the five new machines in place, Just Digital were able to significantly reduce their material costs as they can now manufacture certain materials in house, saving between £8,000 - £13,000 per month on average.

The business has also taken on six new employees, with further growth planned in the near future.

Adam Hill, Managing Director of Just Digital said: “As a business we’ve enjoyed fantastic growth since we first formed, and this machine is part of our plans to continue our expansion.

“Working with Close Brothers Asset Finance has been a great experience. They understand our industry and they kept all of the processes and paperwork to a minimum. They were there when we needed them, allowing us to keep it simple and concentrate on the business.”