Hangfast Ltd. trades from Bingley. Historically, the business provided lighting gantries and visual display stands to outdoor events and concerts mainly in the UK. This part of the business is still in place with the company supplying events such as Royal Ascot.
As the business has developed, the company now sees the majority of its income coming from the production of climbing walls , in a range of designs and styles, artificial caving systems and rope courses . These are supplied internationally to the likes of Center Parcs and Hilton Hotel Group.
Hangfast operated from one small unit on the Crossflatts industrial estate. The company had expanded to fill the work space and it was in fact overflowing. Production space was at such a premium that office space was taken over, seriously affecting the administrative function of the company. In order to continue the expansion within the UK and overseas, the Managing Director, John Beers realised that more space was required, preferably on the same industrial estate to minimise disruption to the on-going operation of the business and called in the EEN advisor for help.
Discussions took place with the EEN advisor and details were provided of the Leeds City Growth Fund capital expenditure grant including a sample application and Business Plan examples.
Hangfast Ltd. completed an application for funding towards the purchase of two units on the same industrial estate with a total cost of £ 425,000. The application was sent to the EEN advisor at various stages of completion for advice on maximising its chances of being approved, with suggestions being made to improve the application.
The application was approved.
Hangfast purchased the two units and rented a third to ensure space for their on-going expansion. As part of the project, Hangfast engaged with another company on the same estate – Racks industries Ltd. to provide a mezzanine floor in one of the units so ensuring a custom designed office and administrative function, thus ensuring a controlled expansion. The company now feels ready to take on the challenges of increased business within the UK and Internationally. The EEN advisor also collaborated with Hangfast to produce a case study which was published in a magazine and web sites to increase the company’s public presence.