Loxta set to expand overseas following investment

Clitheroe-based door hardware manufacturer Loxta Hardware is set to expand its product range and expand overseas for the first time after securing a £50,000 investment.

The finance was facilitated by the Northern Powerhouse Investment Fund and BFS & MSIF Microfinance, a product fund managed by Business Finance Solutions in partnership with MSIF.

In response to increasing demand from its trade customers, which include interior designers, architects and ironmongers, Loxta will use the funding to design and manufacture high quality architectural ironmongery and door hardware across its product ranges.

The company will also purchase additional stock and launch new products to spearhead its entrance into the export market for the first time in 2018, focusing on European and Middle Eastern markets.

Loxta was established in 2012 by founder and director Shaun Singh, who was driven to design his own range of door hardware products after extensive experience in the sector.

He contacted Boost; Lancashire’s Business Growth Hub looking for support and was introduced to funding options available at NPIF by Access to Finance Specialist Prakash Patel from A2F North West. Boost is also providing funded mentoring support to Shaun to help him manage the expansion.

Shaun Singh said: “We created Loxta to bring a new era of exceptional engineering to the interior hardware industry and BFS were immediately able to see the national and global potential of our products. We have immediately invested the funds in the development of a full range of new door fittings solution and as a result we are able to really develop both our trade client base and our export strategy.”

Mark Gibbons, senior loan manager at BFS, said: “Shaun and his team have created a great British company that is proudly designing, manufacturing and distributing all of their own products. “They came to us with a strong plan for growth, anchored to an ambitious brand extension, which we were very happy to support with funding from NPIF and, as a result, Loxta is already well on the way to establishing a new standard of product and engineering within this market.”