Home Boost Business Lancashire logo

NPIF set to open new doors for Loxta Hardware

Loxta Hardware awarded 50k by NPIF

Clitheroe based door hardware manufacturer Loxta Hardware has secured a £50,000 investment to fund major expansion plans from the Northern Powerhouse Investment Fund (NPIF) – which recently announced its 100th deal.

Loxta was established in 2012 by founder and director Shaun Singh, who was driven to design his own range of door hardware products after extensive experience in the sector. Shaun has since developed over 100 product ranges using innovative design and manufacturing techniques that have enabled the business to deliver stronger products, softer contours and a wide variety of colours and finishes that are resilient and resistant to corrosion.

In response to increasing demand from its trade customers, which include interior designers, architects and ironmongers, Loxta will use the NPIF funding to design and manufacture high quality architectural ironmongery and door hardware across its seven product ranges.

The company will also purchase additional stock and launch new products to spearhead its entrance into the export market for the first time in 2018, focusing on European and Middle Eastern markets.

Shaun originally contacted Boost; Lancashire’s Business Growth Hub looking for support and was introduced to funding options available at NPIF by Access to Finance Specialist Prakash Patel from A2F North West. Boost is also providing funded mentoring support to Shaun to help him manage the expansion.

Shaun Singh said: “We created Loxta to bring a new era of exceptional engineering to the interior hardware industry and this funding is testament to the national and global potential of our products. We have immediately invested the funds in the development of a full range of new door fittings solution and as a result we are able to really develop both our trade client base and our export strategy.”

Mark Gibbons, Senior Loan Manager at Business Finance Solutions (BFS), who manage the NPIF Microfinance fund, said: “Shaun and his team have created a great British company that is proudly designing, manufacturing and distributing all of their own products.

“They came to us with a strong plan for growth, anchored to an ambitious brand extension, which we were very happy to support with funding from NPIF and, as a result, Loxta is already well on the way to establishing a new standard of product and engineering within this market.”

Sue Barnard, Senior Manager at British Business Bank, said: “We are committed to supporting companies across the North of England and it is great to see our fund managers continuing to back businesses like Loxta that will drive the future of Lancashire’s local economy.”

Andy Walker, Head of Business Growth and Innovation at Lancashire County Council, said: “This investment is a perfect example of how Boost and the Access to Finance programme have worked together to find the right funding solution for Loxta. The fact that Shaun intends to use the NPIF investment to boost productivity and increase exports is also fantastic news, as these are two major drivers of growth which will help benefit the whole of Lancashire’s economy.”

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Photo Caption – Left to right: Andy Walker, Lancashire County Council, Sue Barnard, British Business Bank, Shaun Singh, Loxta, Mark Gibbons, BFS


You may also like...

Chorley children’s licensed products supplier expanding into Europe as part of growth drive Jo Duckworth Anthony Duckworth Andy Downie Dreamtex
17th October 2023

Chorley children’s licensed products supplier expanding into Europe as part of growth drive

Anthony Duckworth, Andrew Downie and Jo Duckworth
Dreamtex, Chorley

Manufacturer sees customer increase after Innovation Sprint support Autentica sees increase in customers
12th July 2023

Manufacturer sees customer increase after Innovation Sprint support

Irma Gilbert
Autentica, Blackpool

Sign up to our newsletter

For insights and events to help your business thrive.

In completing this form, you understand that Lancashire County Council (Boost) has a requirement to process your personal data. Lancashire County Council will only ever process your personal data where it has a clear lawful basis for doing so in full compliance with data protection legislation - UK GDPR and The Data Protection Act (2018). We will ensure the security and confidentiality of your personal data at all times. For full details of how Lancashire County Council handles your personal data please see our privacy notice here . Some information relating to this public funded project may be declared to third parties under the Freedom of Information Act 2000.
Funded by local govmt
Department for Trade and Business
Northern Powerhouse
Lancashire County Council

The website uses cookies.

Some are used for statistical purposes and others are set up by third party services. By clicking 'Accept all & close', you accept the use of cookies. For more information on how we use and manage cookies, please read our Cookie Policy.