£100,000 grant assists leading compressor distributor to expand in Bradford
Leading British compressed air distribution company, Thorite has secured a significant business development grant from Leeds City Region Enterprise Partnership (LEP).
14 August 2020
Leading British compressed air distribution company, Thorite has secured a significant business development grant from Leeds City Region Enterprise Partnership (LEP) with support from Bradford Council’s Invest In Bradford Team.
Thorite clinched a £100,000 grant from the LEP to invest in the firm’s new 40,000 square foot site on Hillam Road, off Canal Road in Bradford. The new grant will assist the expansion and centralise its Bradford operations bringing together the firms’ sales and service centre, aftermarket support, systems design, training academy, and national distribution centre all under one roof.
LEP Business Growth Managers, jointly funded by Bradford Council and the LEP, successfully guided Thorite managers through an application which was approved by the LEP in April.
Thorite’s new central Bradford site more than doubles the size of the older facility in Laisterdyke and offer the company’s customers a complete one-stop-shop experience and more choice of pneumatic, hydraulic, and fluid power products.
The centralised operation aims to bring greater integration, coordination and productivity to the firm allowing it to develop further and nurture key customer relationships and new product development.
The central Bradford facility will feature a new sales and service centre showroom and trade counter built alongside a new product showcase area to promote Thorite’s extensive product range.
Last year, Thorite turned over almost £20 million, and its latest move will give the firm a strong strategic base to achieve ambitious growth plans.
A family-owned business since its foundation in 1850, Thorite has grown to become the UK’s largest distributor of pneumatic and compressed air products and process systems.
From its head office in Bradford, which is also the company’s national distribution centre, sales and service centre, service administration and systems division, Thorite has expanded to create a regional network of sales and service centres In Blackburn, Bolton, Bristol, Doncaster, Huddersfield, Leeds, Rochdale, Sheffield, North Shields, and the West Midlands.
Roger Marsh OBE DL, Chair of LEP and NP11 said: “Boosting productivity remains a priority for the LEP and I’m delighted that we have been able to support businesses across the region.
“A key part of the Local Industrial Strategy is to close the productivity gap with the rest of the UK; doing so would mean more better-paid jobs, improved living standards and could add £11 billion to the region’s economy.
“I’d encourage all businesses to get in touch with the LEP and find out about the support available to improve productivity”.
Councillor Susan Hinchcliffe, Leader of Bradford Council and Chair of the West Yorkshire Combined Authority said: “Firms like Thorite are vital to the Bradford district and regional economy and we are delighted to be able to assist them with this important grant which will boost their productivity, support growth and create jobs.
“Increasing productivity is an important driver in developing a strong, socially inclusive economy that works for everyone.”
Thorite Managing Director Stephen Wright, said: “We’re now in a position to move ahead with this exciting new chapter in Thorite’s future. The new building will provide us with room to expand and support our plans to grow Thorite to be a truly national company, headquartered in Bradford and we expect to move in by January 2021.”
This project received investment from the Leeds City Region Enterprise Partnership (LEP), delivered by the West Yorkshire Combined Authority, through the Leeds City Region Growth Deal – a £1 billion package of Government investment to accelerate growth and create jobs across Leeds City Region.
To find out what support is available for your business, visit the-lep.com/BusinessSupport