OBAS UK eyes up future growth thanks to substantial loan from The North West Fund for Loans Plus
It already supplies the UK’s builders, plumbers, painters and
decorators with tens of thousands of products and now OBAS UK has
further expansion planned.
The Lancashire-based company is funding its expansion with a
six-figure loan from The North West Fund for Loans Plus managed by
While OBAS has customers throughout the UK, it also has a strong
local presence in Lancashire. OBAS is using the loan to
upgrade its Longridge headquarters and open a new trade counter to
increase local sales.
In addition, the company will use the loan to develop its online
presence and increase stock levels to boost its UK customer base
with plans to broaden its range of own-brand products.
The loan from The North West Fund for Loans Plus, which is
financed by the European Regional Development Fund and the European
Investment Bank, provides OBAS with an important injection of
“The key industries we supply have all been through tough times
in recent years, but we’ve traded through this and built a
sustainable business. We’re now ready to re-launch our
vibrant brand and expand both locally and nationally.
“The loan from The North West Fund for Loans Plus has provided
the capital we need to make our plans a reality. We’re
opening up a new local trade counter, introducing key accounts as
well as ramping up our online activities. We’ll also be taking on
some new specialist staff,” explained OBAS’s Chief Executive,
Originally a family business established over 25 years ago,
significant investment in 2008 enabled OBAS to acquire four
companies and grow into the business it is today.
Since 2008 OBAS’s management team have boosted its product range
by increasing the company’s supplier base and focusing on brand
development. A focus on service has also improved customer
FW Capital Senior Investment Executive, Andy Traynor made the
loan to OBAS. He said: “Norman and his team have transformed
OBAS since 2008 and the investment they’ve made in the business is
paying off. OBAS now has an extensive, competitively priced
product range and a reputation for superior customer service.
“Despite facing some difficult trading conditions over the last
few years, OBAS’s sales revenues have risen steadily and today it
has over 26,000 customers. The loan from The North West Fund
for Loans Plus has provided the capital to implement the next stage
of the company’s growth plan.”
With the construction industry accounting for around 6% of the
UK economy and residential construction at its highest level for 18
years, OBAS is now well-placed to take advantage of improving
The North West Fund for Loans Plus can lend between £50,000 and
£750,000 in a single round for North West-based businesses.