Comprising of £500,000 invoice finance and £825,000 of asset finance, the deal has allowed The Printroom to replace its 2008 Manroland B2 press with a brand-new Komori B2 five-colour machine.
Currently under installation and due to be commissioned 11 October, the new press will cut the firm’s operating costs, joining The Printroom’s two new Canon wide-format machines, an Arizona 1360 and Colorado 1600, both installed earlier this year.
“Metro Bank has been fantastic,” John Sheridan, the firm’s director, told Printweek.
“Gary Owens [Liverpool local director] at Metro Bank, has been very hands on and very good with advice.”
Sheridan and the team considered their options from across all manufacturers before deciding to go with Komori, he said.
“We were spending money, year in, year out keeping the press to the standard that we needed, that we decided it had reached that tipping point where you spend almost as much maintaining it as it costs to buy a new one,” Sheridan said.
“So we looked around, and Komori ticked every box for us: value for money, quality, and availability: we purchased one that was already on its way to the UK, so didn’t have to wait nine months to install.”
To make room for all of these installations – the company is also expecting a new Vivid Veloblade cutter to replace a Summa router – the firm extended its factory space with a new 465sqm mezzanine floor, which was installed over just two weeks in the spring.
“We had the choice to leave our current site, where we’ve been since 2008,” explained Sheridan, “but after consulting with our staff and local businesses, we decided it was probably better for us, from both a social and economic point of view, to stay where we are, invest into the community and support the region,” he said.
“Sefton is not one of the richest boroughs within [Liverpool] city, but it’s up-and-coming, and we’ve got a contract with the council – it’s all worked out, and it’s part of futureproofing the business and moving forward.”
Metro Bank’s Owens said: “The Printroom is a thriving local business. I’m so glad I was able to speak to them about the benefits asset finance and invoice finance could bring to their business model.
“I love meeting new and prospective clients across Liverpool and the wider city region and I’m really happy with how this has turned out.”
The Printroom UK employs 20, turning over £2.3m annually.
