Member Article

Total Vibration Solutions makes sound decision in purchasing new premises

A noise and vibration control specialist in Rossendale has purchased new premises, enabling it to bring all its operations under one roof for the first time, with the support of a six-figure loan from Lloyds Bank Commercial Banking.

Total Vibration Solutions has moved to a new 15,500 sq ft site on the Carrs Industrial Estate in Haslingden, roughly half a mile from its three old sites.

Currently employing six members of staff, the business is looking to take on two more in the next few months, as well as increasing its current turnover of £4.2 million to £5.5 million in the coming year.

The company was established in 2009 and provides noise and vibration control products for use in construction, as well as specialist flooring for sports facilities such as gymnasiums.

Managing director, Paul Lafone said: “When this property came onto the market we knew that it was perfect for us, as its will enable us to store considerably larger volumes of materials as well as providing room to add additional machinery in the future.

“Our products have a huge range of applications in construction and we’re looking to continue our rapid growth by targeting both domestic and overseas markets in the coming year.”

In order to finance the purchase of the premises, the company approached Lloyds Bank Commercial Banking, which provided the loan under the Government-backed Funding for Lending Scheme (FLS).

Paul added: “This is the first time we’ve owned our own premises and having the whole team in the same building will make us far more efficient, and the support from Lloyds Bank was key to the smooth transition to our new home.”

Relationship manager for Lloyds Bank Commercial Banking, June Ainscough, said: “Purchasing its own premises is a real milestone for Total Vibration Solutions, and will provide a solid foundation for it to build on in the future.

“It’s rewarding to be able to support a business’ growth ambitions, and we have increased our net lending to small and medium sized businesses by five per cent year on year.”

This was posted in Bdaily's Members' News section by Sophia Taha .