4D Rubber In Santander corporate & Commerical funding
Derbyshire latex sheet maker Four D Rubber is preparing to expand into new markets after securing a multimillion-pound cash injection from Santander Corporate & Commercial.
It comes a year after the bank backed Richard Gogerty’s management buyout (MBO) of the company alongside Finance Birmingham with a £3.6m package.
Four D Rubber was established in 1964 and manufactures latex for a range of industries including medical, retail and leisure. It employs 113 staff across its sites in Heanor and Sri Lanka.
Chief executive Gogerty led an MBO in December 2014 and is now concentrated on expanding the business “significantly” with a focus on international markets.
The latest package from Santander totals £3.2m and will be used to redesign Four D’s websites and support overseas growth by bolstering its UK sales team. A portion of the cash will also go towards designing new products.
“This is an exciting time for our business as we are now in a position to invest in new products and people, both in the UK and Sri Lanka,” Gogerty said.
“A key aspect of this growth strategy is to focus on the medical and exercise segments where we believe there will be increased demand in the future.
“Santander’s understanding of the manufacturing sector and global expansion has been invaluable in helping us to turn our plans into reality.”
Steve Young, relationship director at Santander Corporate & Commercial, added: “Four D Rubber is an excellent example of a UK business which has developed a unique product and has subsequently carved out a niche market for itself.
“With Richard’s impressive experience in this industry, we are confident that the business will go from strength to strength in the coming years.”