A Leeds-based company that supplies bearings worldwide is set to boost exports to South America after securing £500,000 from NPIF II – Mercia Debt Finance, which is managed by Mercia Debt as part of the Northern Powerhouse Investment Fund II (NPIF II).

Quality Bearings Online currently supplies manufacturing and engineering firms in over 120 countries, with exports accounting for more than 90% of its turnover.

Quality Bearings was one of the first online suppliers of its type when it was set up in 2012, and won the Queen’s Award for Enterprise for International Trade in 2022.

Last year it launched a trade sales division, QBOL World, after acquiring the assets of another bearings supplier, Euro World. It has also expanded into a second unit adjacent to its existing premises and achieved a 28% increase in turnover.

The business, which is led by Denny Maude and Simon Riley, currently employs 27 staff. The NPIF II funding will provide additional working capital to support its growth plans, which include establishing a new division to serve the aerospace, defence and advanced engineering sectors, and the creation of three new jobs.

Denny Maude, CEO of Quality Bearings, said: “By embracing e-commerce, Quality Bearings brought a fresh approach to a traditional industry where sales were handled over trade counters. Our ability to quickly source products and deliver to customers worldwide, often within one to two days, has been key to our success.

“Looking ahead, we are focused on continued growth and becoming the number one choice for premium bearing supplies on a global scale.”

Gary Whitaker of Mercia Debt added: “Quality Bearings has been a pioneer in the industry and its experienced management team have continued to drive the business forward.

“Following a year of heavy investment, in which the company has doubled its floorspace and expanded into trade sales, this funding will enable the team to move on to the next phase of growth.”

David Baggaley, economic development programme lead at Leeds City Council, provided business growth advice to Quality Bearings.