£1/4m Funding Package for Fabs 4 Ltd

14th Feb 2006

A Knowsley-based company which manufactures equipment for the commercial catering industry has received a cash boost from Merseyside Special Investment Fund (MSIF).

Fabs 4 Limited manufacture a wide range of stainless steel products including hot and cold food display units, canopies, food servery counters, sinks and work surfaces.

The company has fitted out branches of Sayers, Tesco, Frankie & Benny's, Marks & Spencer and ASDA throughout the UK and Ireland. They have also undertaken large projects at Old Trafford and Dubai International Airport.

Fabs 4 has raised a £280,000 funding package that includes a £25,000 loan from MSIF, a £50,000 NWDA grant and directors' own investment.

The company was set up by directors Stephen Lunt, Paul Curran, Joseph Herrity and Wayne Boult in January 2005.

Managing Director Stephen Lunt said: "Our aim is to provide our clients with a bespoke service of the highest quality. The UK catering market has grown considerably over the last five years and the demand for our products is high.

"The money from MSIF was crucial, enabling us to buy specialist machinery and computers for the factory".

Carol Bolland, Investment Manager of MSIF's Small Firms Fund said: "This company has already established itself as a leading player in the industry. The management team is very experienced and they deserve continued success."

Fabs 4's turnover is expected to hit £1.2m and it is thought this figure will double over the next three years. The company currently employs 20 staff and expects to take on at least six more over the next three years.

Ends

For further information contact Angela White at Merseyside Special Investment Fund on 0151 236 4040

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Photo [by Mealeys] shows L-R Carol Bolland (MSIF) Joe Herrity (Fabs 4)

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