Trinity Kitchens cooks up growth plans with NEL investment backing
Uploaded by Suzanne Smith in Recent Investments, Small Loan Fund on January 17, 2024
A County Durham cabinet manufacturer has marked its 20th anniversary by substantially increasing its manufacturing capacity with the help of a five-figure investment from the North East Small Loan Fund, managed by NEL Fund Managers.
Trinity Kitchens is a leading manufacturer of high-quality cabinets for kitchens, bedrooms and bathrooms, which are supplied to tradesmen and retailers right across the North East and Yorkshire.
In 2019, the business moved into a new 14,700 sq ft manufacturing facility on the Aycliffe Business Park in Newton Aycliffe to help meet growing client demand.
And now, after working with fund management firm NEL Fund Managers to bring in the investment from the North East Small Loan Fund Supported by The European Regional Development Fund, it has taken on a further 4,750 sq ft of manufacturing space right across the road.
The extra space is facilitating Trinity’s move into manufacturing and painting its own timber and MDF cabinet doors, with the investment supporting both the preparation of the new premises and the purchase of the equipment and fittings required to carry out the work.
Two new jobs have already been created as part of the expansion, taking the total workforce up to 26, and a further three are expected to follow as production increases.
Established in 2004, Trinity Kitchens was set up by husband and wife team Matthew and Leanne Fisk in a small trading unit with just two pieces of equipment, and now occupies more than six times that original space.
Leanne Fisk says: “We’ve achieved sustained growth over the last few years, in terms of both revenue and staff numbers, and we identified scaling up our manufacturing by incorporating cabinet door manufacture and finishing processes as the next stage of our development.
“Having the extra space we needed right on the doorstep was very convenient, but adapting it into the type of facility that could be used for this purpose required a substantial amount of specialist factory fittings and equipment.
“NEL’s commitment to strengthening the regional economy by providing a tailored investment model very much appealed to us, and their backing has enabled us to get the new manufacturing facility up and running right on schedule.
“We’re ready to take advantage of the opportunities that we know are out there for us and to create more new jobs as production increases through 2024 and beyond.”
Mike Guellard, Senior Investment Executive at NEL Fund Managers, adds: “Trinity’s commitment to quality and sustained commercial success over two decades is extremely impressive and we’re very pleased to be working with them on the next stage of the company’s development.”
Part of the £153m North East Fund and aimed predominantly at smaller SMEs, the £9m North East Small Loan Fund typically offers loans to businesses in Tyne & Wear, Durham and Northumberland.
It is designed to assist with the creation of over 1,200 new regional jobs in more than 320 SMEs over the life of the fund.
The overarching £153m North East Fund will provide financial support for more than 600 businesses, creating around 2,500 jobs and delivering a legacy of up to £80m for further investment into the region.
NEL Fund Managers is also responsible for managing the £18m North East Growth Capital Fund, which offers unsecured investments to established businesses looking to realise their growth potential.
For more information about NEL’s investment criteria, visit www.nel.co.uk or contact the investment team on 0345 369 7007.