L-R: Mark Mountford Propel, Jayne Bowen-Davies Celtic Chilly Storage, Mike Fenwick Verde Company Finance, Andy Phillips and Marion Jellings Celtic Chilly Storage and Martin Palmer UKSE.
Image by Nick Treharne
A newly-launched chilly storage enterprise backed by a £250,000 funding package deal is aiming to create jobs within the Valleys as the world fights again in opposition to the consequences of Covid 19.
Celtic Chilly Storage Ltd, a brand new enterprise in Merthyr Tydfil, presents a whole packing, cold-storage and transport service to main supermarkets, in addition to to smaller meals suppliers.
The enterprise has been launched by a staff of three – Andy Phillips, Jayne Bowen-Davies and Marion Jellings – who collectively have 60 years’ complementary expertise within the business.
Ten persons are presently employed on the newly-created facility, and in three years the purpose is to double to a workforce of at the least 20, mentioned Director Jayne Bowen-Davies. “The Valleys, like many different areas, is struggling badly due to the consequences of Covid,” she mentioned.
“We can be more than happy if we are able to put jobs again into the Valleys and do what we are able to to assist the native financial system bounce again from this horrible scenario.”
Shoppers embrace Morrisons, M&S and Fortress Dairies. “In addition to the larger meals retailers we see ourselves working with a variety of smaller shoppers and providing a distinct segment service in specialised areas of the market,” she added. “We’ll purpose to cater for his or her wants from begin to end.”
The agency has a 1000-pallet freezer capability, and the plan is to extend this, and likewise add extra packaging functionality. “In three years we hope to have taken extra folks on and to see substantial progress,” she mentioned.
The £250,000 funding package deal consists of loans of £50,000 from each Tata Metal subsidiary UKSE and Improvement Financial institution of Wales, and £60,000 asset finance from Propel. An additional £90,000 was raised in asset finance from Aldermore Financial institution. The package deal was brokered by Verde Company Finance, which is a part of the GS Verde Group.
Martin Palmer, Funding Govt with UKSE, mentioned : “It’s all the time good to see new jobs being created within the Valleys, and particularly in opposition to the backdrop of the financial issues attributable to the Pandemic. The administration staff has a few years’ expertise within the business and wonderful contacts and we’re delighted to have been capable of assist this undertaking.”
Mike Fenwick, Affiliate Director at Verde Company Finance, assisted the corporate with the finance increase, in addition to getting ready the marketing strategy and monetary forecasts required to take action. Mike mentioned: “It was a pleasure to assist the administration staff by way of this course of, significantly throughout what’s a difficult time for elevating finance for start-ups. They’re a implausible staff and have constructed a first- class facility in Merthyr, which can service the wants of consumers within the meals sector. We want the brand new enterprise each success for the long run”.
Emily Wooden, Funding Govt on the Improvement Financial institution of Wales mentioned: “This deal represents wonderful collaboration between Celtic Chilly Storage and their funders. As co-investors, we’re delighted to have the ability to provide a micro mortgage that can assist to create jobs in Merthyr Tydfil and assist the expansion of Celtic Chilly Storage as a brand new enterprise.”
Mark Mountford of Propel added: “Propel are delighted to assist Celtic Chilly Storage Ltd with an Asset Finance facility of £60,000 to assist purchase business-critical tools. Propel labored carefully with their administration staff to totally perceive their marketing strategy; and are happy that Celtic Chilly Storage Ltd has a optimistic proposition together with the added bonus of making new jobs within the space.”