6 August 2018
NorthEdge Capital has announced the first investment from its recently closed NorthEdge Capital SME Fund I, backing award-winning cloud services specialist iPortalis with a multimillion-pound growth capital investment to support its global expansion.Find out more
Platinum Stairlifts is a UK-based designer and manufacturer of stairlift products for the global market.
Based in Keighley, West Yorkshire, Platinum Stairlifts manufacturers a full suite of stairlift products. The company employs over 100 staff and distributes to more than 40 countries worldwide, including France, Germany, the Netherlands and USA, through its network of authorised dealers.
Platinum Stairflifts is at the forefront of a sector set for long term expansion. The global market is estimated to be worth c.£1bn and continues to grow as ageing populations and empowering people to stay at home longer becomes increasingly prevalent.
Platinum Stairlifts has achieved strong growth in recent years, with revenue increasing by over 20 percent year-on-year since 2012. With the potential to expand and strengthen its existing network of authorised dealers across the globe further, the business is well placed to increase its share of the market.
NorthEdge’s backing will allow Platinum Stairlifts to continue to invest in new product development, enhance its proposition for distributors and further strengthen its presence across international markets, enabling the company to scale up its operational platform in the process.
The investment was led by NorthEdge’s John Rastrick, Partner and Head of Yorkshire & North East, Tom Rowley, Director, and James Marshall, Investment Manager. James Buckley joins the company as Non-Executive Chairman.
Tim Frear, Founder at Platinum Stairlifts, said: “NorthEdge has developed an impressive track record of supporting high growth manufacturing businesses in the region, making them the ideal partner for us.
“The stairlift market has a number of strong underlying growth drivers and we are excited about accelerating our growth plan with the investment from NorthEdge. In the coming years, we hope to enhance our position as the preferred supplier for stairlift distributors by continuing to do what we do well – make great products and provide the highest levels of service to our distributors.”
James Marshall, Investment Manager at NorthEdge Capital, said: “NorthEdge are really looking forward to working with Tim and the Platinum team. Platinum is well positioned to accelerate its recent growth in the global stairlift market, a market that looks set for long term expansion underpinned by robust growth drivers.
“Platinum’s success in recent years is a result of its reputation for high quality products and a relentless focus on providing excellent service to its network of international distributors. Our investment will support the strategy forged by Tim and the team, which will see continued product development, expansion of the business’s international reach and investment in the operational platform to drive growth.”