Poole: Hyphose invests in new premises with funding from Barclays
Barclays has announced a six-figure finance package to a Poole-based manufacturer and supplier of high-pressure hoses and marine products, to aid its ongoing growth strategy.
Established in 1980, Hyphose now boasts an annual turnover of £4.5 million and has recently moved its Poole operation to new premises located at Abingdon Road on the Nuffield Industrial Estate. The firm already has established trade counter outlets in Southampton and Portsmouth with future plans to launch a new head office at Ringwood, Hampshire.
With 39 employees, the business supplies a wide range of hydraulic, water, air, steam and chemical hoses and couplings. The coupling terminations stocked meet global demand for different thread configurations and include American SAE and JIC, German DIN, French GAZ, British BSP and all Japanese threads.
Hyphose supplies and services customers operating in the food, farming, construction and marine industries, as well as machinery manufacturers, factory maintenance and the Ministry of Defence. A network of mobile Hose Doctor vans operates a 24-hour repair service along the South Coast to respond rapidly to customer’s onsite service requirements.
The Barclays finance package, will allow the business to increase its capacity to service a growing order book as well as hire additional fitters and expand its apprenticeship scheme.
Steve Grinter, managing director at Hyphose, said: “The funding from Barclays will allow us to continue to meet our growth aspirations and take on new employees. It has been a great help to us to know that we have had the full backing and support from our trusted banking partner throughout the changes and the expansion our company has gone through this year.”
Mike Union, Barclays relationship director, Poole, added: “Hyphose has carved a niche for itself in a competitive market and is enjoying strong growth. We are fully committed to supporting the business as its looks to continue to build on its success and expand across the south.”
Hyphose in Poole, Southampton and Portsmouth is a distributer of the ParkerStore trade counters where hose assemblies can be made while you wait. ParkerStore has over 1,000 locations worldwide.
Hyphose currently has vacancies in its apprenticeship scheme. To find out more visit www.hyphose.com or call 01202-673333.
