A company breathing new life into the former Remploy factory in Huddersfield has secured a £10m funding package - and the hope of new jobs.
Waterloo-based Principle Group – which provides signs and branding for blue-chip companies around the world – said the funding from Lloyds Bank Commercial Banking would support its growth and fund investment in future projects.
It follows Principle’s announcement that it will invest £3m in transforming the former Remploy factory next to its current premises at Tandem Industrial Estate in a move set to create up to 44 jobs. The development will include showrooms, a theatre and conferencing facilities.
Principle Group – which has offices in USA, Italy, Germany, India and China and is setting up new offices in Japan and South Africa – works with major names spanning corporate and retail sectors and global brands such as Jaguar Land Rover, BMW and leading financial institutions.
The group employs more than 300 staff directly and almost 600 indirectly around the world.
Richard Butterfield, founding chairman of Principle Group, said the link-up with Lloyds had provided “a solid platform from which to enter our next phase of growth”.
Victoria Woodings, global board director of Principle Group, said: “We’re proud of our roots and that our reach is continuing to grow internationally from our original base in the heart of Yorkshire. The team at Lloyds Bank completely understand what we want to achieve and have the expertise to help us get there.
“We deal in many global currencies and have worked with Lloyds Bank to find a banking solution that works for us in the UK and also utilises its partner banking network to support our global presence and projects.”
Joanne Williamson, business development director at Lloyds Bank Commercial Banking, said: “Principle Group is a fantastic business in our region that we are proud to be working with. It offers a unique proposition for its clients, which are national and international leading names across all sectors”.
Principle Group was formed in 1987 by Mr Butterfield in an old mill in Scissett to offer a management service for changing signs on commercial buildings.
Thirty workers – 28 of them with some form of disability, mental health issue or learning difficulty – lost their jobs with the closure of the Remploy factory in August last year.