Insulated Tools Ltd - Funding To Improve Production -
Coast to Capital helped fund crucial investment in the business to introduce innovation and increase the productivity of the business.
ABOUT
The ultimate in electrical and live line protection. ITL manufactures injection moulded, insulated tools with a secret thermoplastic recipe. All ITL tools are 100% tested to IEC 60900 and "Category C" - this means that they can be used in extreme climates and in the harshest and toughest of conditions.
ITL can make these claims with confidence - their tools are premium products that lead the industry in quality. They are longer lasting and harder wearing with a unique lifetime guarantee. With the help of Coast to Capital ITL tools are being used by professionals all across the globe.
THE CHALLENGE
Owner Mark Wardle wanted to build on the innovative legacy of the founders of the company to develop new tools with a stronger brand. In order to meet the increasing demand for bespoke products and to access new markets, ITL identified a need to invest in modernising their design and engineering processes to increase capacity, as well as innovate and lead the market.
Through modernisation, they can be more responsive to larger bespoke orders and create more highly skilled jobs.
THE SOLUTION
Through the Coast to Capital Growth Hub, ITL was made aware of the new Coast to Capital Growth Grant programme. The Growth Grant team worked closely with ITL throughout the expression of interest (EOI) and full application process to support the presentation of a high quality application to the Growth Grant Appraisal Panel.
The approved project was awarded £94,400 to support the purchase of essential equipment for their engineering department, as well as a new large capacity injection moulding machine for their bespoke products.
As part of the match funding of this project, ITL were able to invest in new CAD software for their design engineers and technical quality staff and employ a new apprentice. This has established innovative processes within the company, resulting in improved productivity and creating highly skilled jobs in the area.
"We are proud to manufacture tools in Great Britain. It's fantastic that Coast to Capital have helped us grow and innovate here in the South East, developing home-grown skills for greater growth. It's this integrated vision that Coast to Capital have worked with us to achieve - they saw the potential in our ability to sell our tools all over the world, and it's becoming a reality! "
Mark Wardle - Founder