Simpson Group invests in new £3m funding facility

Sep 23 2009 by Peter McCusker, The Journal

PRINTING firm Simpson has bolstered its finances with a new £3m funding facility which will support its search for new acquisitions.

The Washington-based firm almost doubled in size late last year when it took advantage of the recession to capture one of its competitors which had gone into administration.

Now after bedding in this London-based acquisition it is eyeing further growth with hopes of adding a further 20% to it sales taking them to £14.5m in 2010.

Mark Simpson, chairman of Simpson Group and son of company founder Bill Simpson. said: “It’s important during times like this to ensure we have the levels of funding in place to deal with the growth in the volumes of business we now do.

“But it also puts us in a good position to move if future opportunities for further rapid growth do arise.”

The group, whose customers include many of the UK’s biggest retailers and manufacturers including TUI Travel, Matalan, Next and Umbro, acquired South East based rival Realisis Instore in November 2008, increasing group turnover by 70% to £12m.

It employs 76 staff at its Washington head office and a further 50 at its plant at Heathrow and is now one of the UK’s market main suppliers of ‘point of purchase’ displays used in retail outlets to promote products and offers.