03/06/2015

TSF Retail Solutions targets growth thanks to multi-million pound deal

A leading North East-based shop fitter which works with UK retail giants such as Tesco, Sainsbury’s, Homebase and Topshop, can now be bolder in its growth plans after attracting significant investment from Aldermore and FW Capital.

The company, which was established in 1993 by Malcolm Foulis and David Craggs, now operates from an 110,000 sq ft factory in Peterlee, Co. Durham, with more than 100 members of staff.

In search of funding to build its workforce and attract major new clients in the DIY and fashion retailer sectors, TSF Retail Solutions approached leading SME investment company FW Capital, which has subsequently invested a six-figure sum in the company.

In addition, TSF Retail Solutions has brokered a deal with Aldermore, which has provided a multi-million pound working capital facility to support it in its ambitious growth plans.

Aldermore specialises in award-winning commercial finance for SMEs. The regional distribution of the Invoice Finance team means it works closely with SMEs across the UK to really understand the needs and concerns of business owners. Chris Huntington, Regional Sales Manager at Aldermore Invoice Finance, worked closely with TSF Retail Solutions and FW Capital to facilitate this deal.

With the new deal in place, TSF Retail Solutions has been able to purchase the latest laser-precision cutting machinery to provide more innovative shop fitting solutions to its clients.

The investment will allow TSF Retail Solutions to initiate an ambitious recruitment drive.

The company has already recruited 5 new graduate trainees, an Account Manager and a Project Manager and, committed to nurturing new talent in the region, has entered into a partnership with Sunderland College to provide a number of apprenticeship placements within the factory.
 
In addition, TSF Retail Solutions has secured a number of lucrative contracts with the likes of Travis Perkins, the UK’s largest builders’ merchants, Home Retail Group which owns Homebase, Argos and Habitat, and Arcadia Group which includes Burton, Topshop/Topman and Dorothy Perkins.

Malcolm Foulis, Managing Director at TSF Retail Solutions, said: “The support and investment through FW Capital and Aldermore has allowed us to be bolder and more flexible in our future planning.

“Our principal contracting division is an area we recognise as being key to our growth and we are now more confident and better positioned - both with personnel and equipment - to bid for larger contracts and tenders.

“Our aim is to establish ourselves as the premier supplier of innovative shop fitting solutions in the UK and with the help of FW Capital and Aldermore, there’s no reason why we can’t achieve this.”

Chris Huntington, Regional Sales Manager of Invoice Finance at Aldermore, added: “TSF Retail Solutions is a prime example of the flourishing SME community in the North East. Aldermore is perfectly placed to support the company’s big ambitions and we’re thrilled to be able to help a thriving business that is boosting local employment and developing future talent.

“We were particularly impressed by FW Capital’s levels of due diligence, sector knowledge, track record and its ongoing involvement with TSF Retail Solutions.”

Michael Vassallo, Senior Investment Executive at FW Capital commented: “TSF Retail Solutions has a strong management structure, proven track record and quality client base.  We’re confident that our investment will help the company achieve its goals.

“We’re now looking forward to working with TSF Retail Solutions on an ongoing basis as it implements its ambitious growth strategy and confirms its position as the number one shopfitter for major retailers in the UK.”