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Lancashire Business Growth Fund - CoolKit

Article Date: 26 October 2015

Media Statement

 

Date: 23rd October 2015

 

CoolKit warm up to further growth thanks to grant support

 

CoolKit, the successful  Padiham-based provider of refrigerated vans and van conversions is on the road to further expansion with the help of a Lancashire Business Growth Fund grant of £240,000.

 

The funds contribute to a total investment of £1,505,000, which will help CoolKit to purchase larger premises in Burnley to facilitate ongoing growth.

 

Established in 2005, CoolKit has grown after enjoying record sales in the last few years.  Having doubled the size of its facilities in 2015 and investing heavily in new manufacturing equipment to help meet increased demand, the company currently employs 40 people, supplying a full range of refrigerated vans, van conversions and associated products including its own range of vehicle lining kits and mobile aftersales support engineers.

 

Working with a wide range of clients including vehicle leasing and rental companies, motor dealerships and fleet buyers, operating in trades such as food service, pharmaceuticals, and sampling, as well as others requiring temperature controlled transportation, the company recently announced contracts with Welsh Water, Alpine Fine Foods and Alphabet.

 

CoolKit managing director Rupert Gatty links the company’s expansion to its refrigerated vehicle conversions, which have built a reputation in the industry for their light weight, durability, versatility and strength, helping provide customers with the highest payload and most reliable performance throughout the vehicle lifetime.

 

He said: “These are exciting times for CoolKit.  With record growth year-on-year, we will soon be announcing details of further expansion after some additional big contract wins.

“The grant funding will help support the cost of relocation to larger premises, which will give us the capacity to fulfil our sales growth expectations.  We’re anticipating our expansion will help create 24 new jobs arising from new contracts in both the UK and overseas.”

 

The Regional Growth Fund-supported Lancashire Business Growth Fund is a programme offering capital investment grants and international trade support to businesses across the county.

 

The programme has been launched by the county’s two accredited chambers of commerce – East Lancashire and North and Western Lancashire – in partnership with Regenerate Pennine Lancashire, and is intended to create 600 new jobs and safeguard a further 200.

 

Its key aim is to accelerate the creation of sustainable jobs by encouraging companies to bring forward growth projects on a bigger scale with a larger impact at a time when those jobs are most needed.

 

Businesses bidding for grants from the scheme can claim up to 20 per cent of the total project costs, with the remaining costs leveraged from the bank or investment.

To be eligible for the programme, projects must involve the acquisition of new premises, infrastructure, machinery, expansion, or another suitable form of capital investment.

Businesses are also required to demonstrate how many jobs will be created through the project in order to be accepted on to the scheme.

 

For more information

Contact:  Stef Heywood, East Lancashire Chamber of Commerce, 01254 356454, s.heywood@chamberelancs.co.uk

 

Notes the Editors

Both Chambers of Commerce are the largest financially and politically independent business support organisations in Lancashire.  They have a combined membership base of more than 2,500 local companies who own, manage, and finance their business support services.

 

Both Chambers are fully accredited members of the British Chambers of Commerce (BCC).  The BCC represents, through a quality assured, UK network of Accredited Chambers of Commerce, more than 100,000 businesses in all sectors of the economy, and of all sizes. Accredited Chambers seek to represent the interests and support the competitiveness and growth of all businesses in their communities and regions.

 

The Regional Growth Fund (RGF) supports eligible projects and programmes raising private sector investment to create economic growth and lasting employment. It has invested £2.85 billion to help businesses in England to grow; and is expected to create or safeguard 581,000 jobs by the mid 2020s

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