Cumbernauld furniture manufacturer to expand after latest funding
A company which specialises in the manufacturing of furniture products plans to expand its design and engineering team after receiving a six-figure funding boost from UK Steel Enterprise (UKSE).
Cumbernauld-based Aquapac produces wooden furniture products for hotels and offices and is traditionally known for its bespoke aquarium and vivarium cabinets.
The company said increasing its design and engineering team by 50% will assist the firm in servicing additional projects and allow it to enter into new market sectors.
Since moving into a custom 50,000 ft factory in 2017, Aquapac been increasing capacity and expanding into new sectors including contract furniture, kitchens, and case goods creating an increased workload for the firm’s expert team of designers and engineers.
The student accommodation sector is now the company’s biggest growing revenue stream with Aquapac recently manufacturing cabinets & beds for 600 halls of residence bedrooms at the University of Surrey with modern furniture.
The latest six-figure injection is the fourth round of funding provided to the company by UKSE, a subsidiary of Tata Steel, since 2007.
Previous funding helped the firm with its move, along with investing in production equipment. The new wave of funding will also assist in purchasing state-of-the-art software and equipment, including a beam saw, a CNC machine and robotic storage.
Since its first year of operation in 1995, Aquapac has increased employee count from 16 to 40, and boosted turnover by 300%.
Managing director Stephen Connachan said: “I’m really proud of the team we’ve grown at Aquapac. Without the help from UKSE, we wouldn’t have been able to expand so rapidly.
“UKSE has been one of our biggest supporters, and thanks to its backing we’ve been able to progress and develop the company into something very special.”
Scott Webb, regional executive at UKSE, added: “We’ve worked with Aquapac for a number of years and we’ve been very impressed with the way in which they have grown, carving out a marketplace for themselves.
“We’re looking forward to seeing what’s in store for the firm in the future.”