Wolf Components, a bed springs supplier based in Rotherham, England, is moving forward with its growth plans following a multimillion-dollar funding package from London-based HSBC Group.
The startup was established in the spring after owners Anthony Joyce and Stephen Baul spotted an opportunity in the market for British-made innersprings to supply British mattress manufacturers. The funding from HSBC has enabled the business to purchase manufacturing machinery for its factory in Rotherham.
The company said it currently employs 12 people and plans to double its workforce over the next 12 months.
“Since establishing the business earlier this year we have focused on setting up a U.K. manufacturing base and understanding the requirements of our clients,” Joyce said. “The funding package from HSBC puts us in a great position to move forward with our growth plans, which include increasing business across the U.K. and Europe and expanding our local workforce in Rotherham.”
Mike Swift, HSBC’s area director for West and South Yorkshire, said: “Wolf Components is a great example of the type of dynamic business we are delighted to support. The owners have considerable experience and knowledge of the market and have identified a great business opportunity with strong potential for growth. We look forward to seeing their business thrive.”
