DA Techs to expand national operation with new finance deal
DA Techs, the rapidly-growing firm which refurbishes alloy wheels, is to expand its presence in the south east after securing £80,000 of funding from Rosebud.
The team is currently based in Adlington, but will use the finance to create a first-of-its-kind wheel refurbishment pod. Featuring wheel repair technology, a tyre machine and spray room, it will be able to travel around and begin working on client's wheels within three hours of arrival.
The move follows DA Techs new contract with a major fleet organisation, taking in finance vehicles and servicing them in order to get back to dealership standard. The deal provides jobs for 16 people in Lancashire, who refurbish around 20,000 wheels per year.
If successful, DA Techs plans to purchase additional pods to further expand its geographical reach, as well as franchising its facilities and privately leasing the pods. It also has plans to increase its head count by four people in Lancashire within the next six months.
Phil Barnard, director at DA Techs, said: "We saw a gap in the market in creating a wheel refurbishment pod and saw the benefits of making our services portable.
"This has enabled further job creation for the area, as well as in the South East where our pod is based. This has allowed us to be easily accessible when serving clients and we hope to build on this momentum going forward and win more big contracts."
"DA Techs is a great example of a Lancashire-founded business with national growth potential.
Jonathan Nelson, fund manager at Rosebud, said: "DA Techs is a great example of a Lancashire-founded business with national growth potential. With its recent national contract win, it was a perfect time to support them with this investment and help towards creating this refurbishment facility.
"The one of a kind pod will allow the team to grow both regionally and nationally, while expanding its client base across the UK. We are excited to continue our work with DA Techs and to work with them as their business continues its exciting growth plans this year.”
GC Business Finance was appointed to deliver Lancashire County Council’s Rosebud Fund in July 2019. The £11.25m investment fund provides loans ranging from £10,000 to £300,000 to businesses across 12 local authority areas in the region and is aiming to create 150 jobs per year across Lancashire.
- For further Lancashire business news, advice and analysis subscribe to Lancashire Business View or join the LBV Hub from just £2.50 per month. Click here to subscribe now.