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Acorn Industrial Aim For Growth

posted 11 Jul 2012, 04:22 by RiDO Rotherham   [ updated 11 Jul 2012, 04:31 ]
Masbrough based Acorn Industrial Services Ltd are making a £1.25m investment in new premises at Hellaby, Rotherham. 

The company is one of the largest power transmission distributors in the country and supplies bearings, power transmissions and linear systems to a global customer base.

Their success has led to expansion into three separate warehouses – still a tight squeeze for its 38,000 product lines and 80-strong team of office and warehouse staff.

A £700,000 injection of funding from Barclays has enabled the £18m turnover business to purchase new 40,000 sq ft premises – twice the size of the existing sites combined and more than capable of housing the company's £4m worth of stock alongside all head office functions.

Acorn is also investing a further £250,000 of its own capital in refurbishing and refitting the Denby Way building that was previously home to bus manufacturer, Optare.

Martin Povey, financial director at Acorn, said: "The company has achieved year on year growth for the last ten years. We're absolutely delighted with the new premises and the funding injection means we have the luxury of refurbishing the offices and warehousing to exactly the right specification before moving in.

"The new premises are more conveniently located for national and international distribution channels, enabling us to fulfil orders even more effectively, and doubling our space will literally open the door to further growth, increases in stock lines and more new jobs for local people."

Richard Smith, partner at hlw Keeble Hawson, who advised Acorn on the deal, added: "Acorn is one of the region's success stories. It's very rewarding to be involved in its "journey" and we're delighted that the company will soon have the facilities to support its ambitious development plans."

Source: Rothbiz