NorthEdge Capital has invested in stairlift manufacturer Platinum Stairlifts, backing the existing management team led by founder, Tim Frear.
Based in Keighley, Platinum Stairlifts manufactures a full suite of stairlift products. The company employs over 100 staff and distributes to more than 40 countries worldwide.
The business has achieved strong growth in recent years, with revenue increasing by over 20% year-on-year since 2012.
NorthEdge’s backing will allow the company to continue to invest in new product development, enhance its proposition for distributors and further strengthen its presence across international markets, enabling it to scale up its operational platform in the process.
The investment was led by NorthEdge’s John Rastrick, Partner and Head of Yorkshire & North East, Tom Rowley, Director, and James Marshall, Investment Manager. James Buckley joins the company as Non-Executive Chairman.
“The stairlift market has a number of strong underlying growth drivers and we are excited about accelerating our growth plan with the investment from NorthEdge,” said Mr Frear.
“In the coming years, we hope to enhance our position as the preferred supplier for stairlift distributors by continuing to do what we do well – make great products and provide the highest levels of service to our distributors.”