Investment Paints Colourful Future for Sterling Colours
26th February 2008
An established Merseyside company which manufactures printing inks and coatings is expanding with support from Merseyside Special Investment Fund (MSIF).
Sterling Colours Limited, based in Knowsley, produces around 90 tonnes per month of solvent and water-based liquid ink for use on an array of packaging. The company counts leading confectionery, consumer goods and tobacco brands among its worldwide customer base.
The company also makes a range of invisible security inks and has recently secured a contract for the inks to be used to help prevent the counterfeit of high value goods.
Sterling Colours was founded by managing director Paul Boulger in 1988. The company has a current turnover of £3.6m and employs 28 staff.
A funding package totalling £140k has been raised which includes a £70k from MSIF’s Small Firms Fund and support from NatWest.
Mr Boulger said: “We have grown steadily over the years but now have some exciting opportunities to significantly expand the business. The investment has been used to grow our manufacturing facility - we have taken on an extra 8,000 square feet of warehousing and production space and installed new, state-of-the-art machinery which will increase production by more than 50%.
“A new director will also join the company next month. Jeff Hulston is a dynamic individual who has vast industry experience and will be a great asset to Sterling Colours.
“MSIF’s involvement has been crucial. They helped us put together the funding package which secures our manufacturing facilities on Merseyside and will support our future growth.”
Small Firms Fund investment manager Alan Birkett said: “Sterling is a well established business with a good reputation and solid customer base and we are really pleased to be its expansion.”
Sterling expects its turnover to reach £5m over the next two years and will take on around eight new staff in the same period.
Ends
Photo shows L-R Paul Boulger (Sterling) Alan Birkett (MSIF)
msif funds
liverpool seed fund
The Liverpool Seed Fund provides equity-based investments from £50,000 - £750,000 to early stage businesses with IP