Specialist manufacturer ready to capitalise on growing market
The company, founded over thirty years ago which employs 110 people is well established in the sector, however they opted to seek funding in order to capitalise upon the growing fixed furniture and equipment market.
The market was judged to be worth £47m in 1997 but is forecast to grow to £282m by 2010, according Department for Education and Skills and British Educational Suppliers Association.
Vari-Tech has already undergone significant expansion, however its management felt extra funding was required and approached YFM Group to provide this.
Deborah Heyes, investment manager at YFM, said: “We are delighted to support such a dedicated and market focused company as Vari-Tech.
“There is no doubt a massive opportunity in this sector and Vari-Tech has laid the ground work to lead developments in a substantial way.
“Management’s experience and product range are second to none and there are definitely exciting times ahead.”
© Crimson Business Ltd. 2006
See if you can get a Start Up Loan to help you start a business idea
(external site, opens in new tab)