Perth
– based Shore Laminates Reaches Scottish Final of £35 million
Entrepreneur Challenge
Perth
based laminate fabricator, Shore Laminates, has been announced as a finalist
in the Scotland region of the Bank of Scotland Corporate £35 Million
Entrepreneur Challenge. The company will now compete with four other businesses
to secure a stunning funding package of up to £5 million, free of
interest and charges for three years.
Chairman, Simon Howie, must now present his business case to a judging
panel featuring two well known and incredibly successful entrepreneurs.
Willie Haughey from City Refrigeration and John Anderson from The Entrepreneurial
Exchange will be joined on the panel by senior representatives from Bank
of Scotland Corporate and Deloitte. The panel will be grilling all five
finalists on their future business plans, as well as looking for someone
with an entrepreneurial flair, spirit and vision that sets them apart
from the rest and makes them an outstanding choice to receive the once
in a lifetime funding package that could change the face of the business.
The judging process will take place on Thursday 2nd October and will be
followed that evening by a dinner and award ceremony at Stirling Castle,
where the winner will be announced.
Shore Laminates Group manufactures and sells from four sites in the UK;
Perth, Grimsby, Havant and Chester and makes sales of its branded shower
panel products to consumers both through distribution partners and direct
sales to bathroom studios. It supplies the construction industry with
bespoke laminate faced products together with the supply and fix of cubicle
systems.
The group has a turnover of £19.5 million and employs 174 people.
It actively seeks to recruit from local communities and as part of its
business function it participates in local schemes and sponsorship. It
was founded on the principle of mutual benefit which is the main factor
in the business keeping customers and having an exceptionally stable team
throughout; and its first employee is still working there after 17 years.
The group is also planning to become UK market leader in the supply and
fit of cubicle systems for both the public and private sector. It has
embarked on a buy and build growth strategy and recently purchased the
UK market leader in decorative shower panelling. If successful in front
of the judges, the company would use the finance to continue and strengthen
this buy and build strategy.
Chairman, Simon Howie, commented: 'Shore Laminates group is already the
market leader in bathroom panelling under the Wetwall and Mermaid brand
names and we hope to increase this dominance through the sale of Splashwall
panels through B&Q stores. If we are successful in the Scottish regional
final, we would seek to penetrate the global market. The USA has been
targeted as a market opportunity for bathroom panelling and agents have
already been appointed to raise awareness of our products there. We are
also planning to become UK market leader in the supply and fit of cubicle
systems which is underpinned by the exciting acquisition of Thrislington
Cubicles Ltd. We plan to strengthen this offer through further acquisition
and expansion throughout the UK.'
Stewart White, Area Director at Bank of Scotland Corporate said: 'Shore
Laminates is an ambitious company which has developed a national interest
and is now looking to go global. Impressing the judges will be a tough
task for all our finalists but I am sure Simon will be confident that
his entrepreneurial flair can sway the panel.'
For more information visit http://www.theboschallenge.co.uk
Web: http://www.shorelaminates.com
