Print machinery firm secures Northern Powerhouse funding boost
Mon 25 Sep 2017
Wakefield-based company Pinheiros has secured £100,000 in funding from the Northern Powerhouse Investment Fund.
Pinheiros Post Press buys and sells pre-owned machinery such as book production lines which are used within the print industry as part of the finishing process. Founded in 2008 by managing director Martin Mason, it is a sister company to Pinheiros Corporation, which supplies pre-owned printing presses and was founded 20 years earlier.
The company has secured £100,000 funding from NPIF – Enterprise Ventures Debt Finance, which is part of the Northern Powerhouse Investment Fund and managed by Enterprise Ventures.
The business employs five staff at its headquarters in Wakefield and works with a global network of business partners with the majority of its products going to overseas markets, in particular to Asia and South America.
The funding will allow it to create an additional post in Wakefield for a Mandarin speaker, and enable Pinheiros Post Press to expand its network in Asia and increase stock levels.
Mason said: "The company has continued to grow steadily since its inception, but the funding has allowed us to plan the next stage of our evolution.
"Employing language speakers has always been part of the strategy and as China plays such a significant part of our client base, having someone who can communicate at all levels will only improve our offering to our existing clients whilst allowing us to develop new channels."
Grahame Lunt, investment manager at Enterprise Ventures, part of Mercia Technologies, added: "Pinheiros Post Press is a truly international company, sourcing machinery from locations worldwide and supplying it to buyers in other countries.
"The team’s in-depth industry knowledge means they are able to match clients’ requirements and offer pre-owned equipment from leading brands at significantly lower cost than new.
"This funding will allow them to take advantage of the worldwide opportunities particularly within the Chinese market."
Grant Peggie, director at British Business Bank, said:
"Supporting growing businesses across the Northern Powerhouse through the provision of the right finance is what NPIF was set up to achieve, and we are delighted to see our fund managers and partners working together to help this become a reality and to move into new overseas markets."