04/03/2013

Finance Wales’ investment supplies Workplace-Worksafe with the capital to expand

Five years’ consistent growth has seen Workplace-Worksafe (Workplace) outgrow its existing premises.  Having secured suitable new premises, a six-figure loan from Finance Wales has provided the Ruthin-based company with the capital it needs to expand.

Workplace trades throughout the UK, supplying a wide range of personal protective equipment and corporate wear from top brands such as Dickies, Helly Hansen and Mascot.  It is also a specialist supplier to the offshore renewables sector. Established by Managing Director, Rhian Parry in 2005, Workplace has built up a diverse local, national and international customer base and is known for supplying customised products to tight timescales.

Finance Wales’ investment has enabled the company to fit out a purpose-built showroom at its new premises.  Sales revenues from the customised side of its business continue to perform well and the investment has also enabled Workplace to purchase additional embroidery and printing equipment.

“We’ve built a reputation for providing customers with competitively-priced products and high-quality services.  Today our loyal customers rely on us for off-the-shelf as well as more specialised products and this has contributed to our success.  Our expansion will enable us to boost our product range and enhance the range of services we provide. Finance Wales understands our business model and what makes us stand out from our competition.  They came up with an investment package that will allow us to put our expansion plans into action,” explained Parry.

Workplace’s larger blue-chip clients include key players in the renewables sector and it has recently developed a new product to transport key components to offshore wind turbines for one of these clients. Finance Wales’ investment executive, Cenydd Rowlands made the investment in Workplace. He said: “Workplace-Worksafe is a small, ambitious company with an enviable reputation in the industry.  Its management team is passionate and committed to driving the business forward. The relationships they’ve developed with their customers clearly demonstrate the quality of service they provide as well as their understanding of the markets they supply. “Finance Wales’ investment is playing an important role in the company’s expansion. It has allowed the company to fit-out its new premises and purchase new equipment to increase its production capacity.”

In addition to a new showroom, Workplace’s new premises also have more office and warehouse space. The company celebrated the move with an open day on 15th February.

Finance Wales’ investment comes from the £150 million Wales JEREMIE Fund.