Firm creates 15 new jobs thanks to £850k boost
FAST-EXPANDING multibrand distributor of security equipment Oprema is creating 15 new jobs after a moving to a new 15,000 sq ft premises.
It comes after the Cardiff-based business secured £850,000 investment from HSBC and Finance Wales.
The funding comprised of a £350,000 commercial mortgage and £100,000 VAT loan from HSBC, and £400,000 from Finance Wales to refurbish the new premises at Eastgate Business Park.
The HSBC funding forms part of a £2.6m finance facility it has in place with Oprema to help it grow its import business and to support the day-to-day operations.
Matthew Epps, managing director of Oprema, said: “The whole team is really excited about the future of the company, especially with our new premises in Cardiff.
“The move has created 15 new jobs and further expanding the reach and capabilities of our operation and distribution.
“It also allows for a greater stock holding of up to £5 million and improved logistics, putting us in an even stronger position to handle the needs of even the largest installers.”
Warren Lewis, HSBC’s head of corporate banking in south Wales, added: “HSBC has banked Oprema since 2013, but it has been the last couple of years where we’ve seen the business start to grow rapidly. Matthew has a clear vision for the business and we have been impressed by his tenacity and professionalism during this incredibly busy time.
“By introducing Oprema to Finance Wales, we have been able to work collaboratively and strategically to ensure Matthew received a funding package that was tailored to his needs, and we continue to support the business with multimillion pound facilities that will help it realise its future growth ambitions.”
Leanna Davies, senior portfolio executive, and Navid Falatoori, investment executive, who structured the investment for Finance Wales, said: “The Oprema management team has a strong track record in growing businesses as well as extensive experience of the sector.
“Their detailed plans show an ambition for rapid and sustainable growth.”
Meanwhile, an Ammanfordbased manufacturing company is expanding its premises in an investment creating new jobs.
Morgan Marine, based at the Cilyr-Ychen Industrial Estate in Llandybie, is expanding its current location with additional office space and to allow the company to create eight new jobs.
Its expansion is being backed with a £91,000 grant from the Carmarthenshire Rural Enterprise Fund.
Key employer Morgan Marine is a manufacturing firm established in 1965 which makes advanced glass reinforced plastic (GRP) housings across the United Kingdom for major developments and utilities.
The £2m Carmarthenshire Rural Enterprise Fund was established to encourage rural businesses in Carmarthenshire to develop new and existing business premises, where new jobs are created.
Morgan Marine Ltd group director Martyn Ingram said: “We are delighted to be able to further expand our operations thanks to the Carmarthenshire Rural Enterprise Fund.
“This extension will enable us to accommodate additional sales and engineering staff – four in year one and a further four in year two. We are proud to be a key employer in Carmarthenshire and it is pleasing to be able to offer additional, quality employment thanks to this expansion.”
In 2015 Morgan Marine unveiled a 16,000 sq ft extension at its Llandybie headquarters, which included a new reception area, and which was opened by HRH The Prince of Wales.