Belfast printers expands to second premises
Belfast-based firm, Quinn’s Belfast, has received a £250,000 loan from the Growth Loan Fund that has enabled it to move into new premises and potentially create 50 jobs over the next five years.
Finance for the £50m Growth Loan Fund – which provides loans to established Northern Ireland SMEs seeking to access growth finance – has been provided by Invest Northern Ireland and private investor, Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC).
Founded in 2009, Quinn’s is a full service trade lithographic printing company that operates 24 hours a day, seven days a week at both sites, with products including business stationary, promotional material, leaflets, booklets and brochures. Currently employing 75 full-time staff, the company’s customer base is spread across Northern Ireland, Republic of Ireland and Great Britain, with exports outside Northern Ireland accounting for the majority of its sales each year.
Operations Director, Kieran McMurrough explained: “100% of our sales are online with 80% of them export sales outside of Northern Ireland. 65% of that is to Great Britain with the remaining 15% being exported to the Republic of Ireland.
“Our key competitive advantage is that we operate a unique job management system which enables us to track and trace orders at any stage throughout completion. We offer lower prices, provide a fast turnaround and we are also the only registered commercial printer in Ireland with the ISO 12647 colour standard.”
Highlighting how the business plans to use the loan Mr McMurrough said: “We will be using the investment to help fund the acquisition of two new printing presses and we have opened a second factory on the Limestone Road. The new presses will improve both our efficiency and on-time shipment performance to assist in driving projected turnover growth.”
Outlining his ambitions for the future, he said: “We will be looking into competing in the packaging industry and potentially creating 50 new jobs over the next five years to support this growth.”
Stephen McConnell, director in accountancy and advisory firm Baker Tilly Mooney Moore that worked with Quinn’s throughout the application process, said: “Quinn’s has achieved significant growth in recent years. This financial assistance from the Growth Fund will help them to put in place the infrastructure they need to meet ambitious growth targets throughout the UK and Ireland.”
Mark Canning, senior investment manager of WhiteRock Capital Partners, said: “This month we are marking the two year anniversary of our investment period and Quinn’s is typical of the companies we’ve been supporting – with a strong focus on innovation, R&D and export which has ultimately led to their business growth. We are proud to have a role in supporting the growth of all of these companies and therefore the wider NI economy.”
WhiteRock Capital Partners LLP was established in 2012 to manage the Fund by the consortium of three partners – Strathtay Ventures Ltd, NEL Fund Managers and Clarendon Fund Managers, all of which are authorised and regulated by the FCA.
Companies seeking funding from the Growth Loan Fund must be based in Northern Ireland, demonstrating growth potential and generally be in the manufacturing, engineering or tradable services sectors. Loans will be typically unsecured and personal guarantees will not be sought.
The loans provided are expected to be complementary to existing sources of finance, including banks, trade finance sources and equity investors. Loans are provided on a fully commercial basis, with monthly loan repayments required over typically a five-year term.
For more information about the Growth Loan Fund’s criteria please contact or go to www.growthloanfund.com