Aartoft builds on foundations with cash injectionBy Matthew Ord, Digital Staff Writer
A North East construction company has recruited a director after securing £200,000 from the Finance For Business North East Growth Fund.
Aartoft, based in Lynemouth, produces lightweight concrete pre-fabricated bathrooms and has recently won a major contract with St Andrews University in Scotland.
The £200,000 investment has allowed the company to recruit William Johnson as a director, as well as a number of apprentices to help manage the increased demand it has been experiencing.
Niels Sandahl, who established Aartoft in 2012 with his wife Helle Dräger-Sandahl, said the company is now starting to realise the "huge potential" its products have in the UK, having already built up a strong customer base in Denmark.
"Part of the reason for basing ourselves in the North East was the highly-skilled workforce to which we had access, and the apprentices we're taking on will receive excellent training from staff who have proved extremely adept at manufacturing our very specialised products."
Barry Gill at Ryecroft Glenton Corporate Finance supported the company in securing the finance.
In mid-2013, the company secured £300,000 investment from the Finance For Business North East Growth Fund to back the first phase of its development plans.
Aimed at regional businesses which are at a development and growth stage, the Growth Fund forms part of the wider Finance for Business North East Fund.
NEL is aiming to make about 130 investments over the five-year life span of the Growth Fund.