A FLEDGLING Teesside company is seeking investment as it aims to grow its turnover to £3m-plus in the next three years with a unique product aimed at the export market.
Trailer-Lift – which is the name of both the product and the business that is part of the larger MMC Group – spent three years working on the design and development.
It was launched in Europe in October and the US in November, where it has already won an award for product innovation.
Trailer-Lift managing director, Tim McCullagh, said: “It’s totally unique. It was invented by a rally driver who tried to put it together and came across a couple of problems.
“He approached the group to get the finished product and we saw there was a lot of potential.”
He said the product – which as the name suggests, combines a trailer with a vehicle-lifting device – has a big potential market among businesses such as car dealerships, mobile mechanics, repair shops, recovery companies and with various motor sports.
The Stokesley-based business plans to boost its current £750,000 turnover to £2m in the second year, £3.3m in year three and £4.2m in fourth year.
Mr McCullagh said: “We have a three-year plan and are seeking investment at the moment.
“We want to expand on this opportunity by securing £500,000 for development to fund the marketing and for stock.
“We are starting to sell, so we don’t want a long lead-in and we need to invest in the materials, some of which come from overseas. We also want to recruit some staff.”
The MMC Group has about 40 employees and Trailer-Lift plans to double that from seven to 15 in the next three years. Manufacture is out-sourced but part of the plan is to bring some to Teesside.
He reckons around 95% of the product’s potential market will be abroad and Trailer-Lift worked with a Virtual Export Manager (VEM) through UK Trade & Investment (UKTI) to win its initial overseas business.
The Government body pays half of the costs of the VEM, an experienced export professional, who spends time with the company “getting their hands dirty” by arranging exhibition space and contacting buyers abroad.
For Trailer-Life, this included the European launch at the Automechanika Exhibition in Frankfurt in the autumn.
