A Bradford-based printing establishment is back in family control after the founder’s son received funds from Reward Finance Group.
Neil Woodhead, who joined the then Bakes and Lord Limited at the age of 16, has retaken charge at the printing company which is now operating under the name T&P Print Limited.
Bakes and Lord Limited was established in 1971, and acquired by Neil’s parents, Brian and Sally Woodhead, in 1984. They had previously been employees, and ran the company profitability until September 2014 when they sold the whole issued share capital to an outside investor. Neil was retained in a reduced capacity.
Unfortunately, under the new management, Bakes and Lord Limited suffered some serious difficulties resulting in a negative change in fortunes. To rebalance this situation, in late December 2015, Neil acquired the vital printing equipment from a finance company that held title.
Reward Finance Group advanced the necessary funding within one week, affording Neil the ability to re-establish this once thriving business.
Since the financial backing from Reward, T&P Print Limited has seen a progressive increase in sales which has enabled them to retain some additional essential equipment and so balance and increase production capacity.
T&P Print Limited currently employs 10 people and is looking to create additional jobs as it increases workload and its client base. The company currently creates products including: brochures; catalogues and magazines for a wide range of clients.
Neil said: “After working under external investors, I wanted the business to remain close to the family, and having the opportunity to regain it and see it succeed is fantastic. Reward Finance Group was able to begin the process in a much quicker time than the banks, which has proved beneficial to our business, and others in the printing industry. The funds allowed us to secure the assets and begin planning for growth under the name of T&P Print Limited. We know that there is a huge opportunity to attract new corporate clients within the area and the finance from Reward means that we can target more customers and increase our workload.”
Damian Slingsby, Business Development Director at Reward Finance Group, said: “We were delighted to help this local business return to its family roots. It’s great to see that since the initial funds, the business has already had success and has purchased more machinery. We look forward to seeing how it develops as a significant printing establishment in the local area.”