Missouri, USA, based plastisol manufacturer PolySol, has opened a new purpose built production facility in Livingston to support rapid growth following a £75,000 investment from Business Loans Scotland (BLS).
Founded in the USA by Jason Marler and Joseph Mueller, PolySol manufactures a PVC liquid coating called plastisol which can be used in many applications including outdoor furniture, tool handle grips and carpet backing to name a few.
With over 15 years of industry experience and after identifying a gap in the market for a business of its kind, Polysol was born in April 2014. Since its inception, the business has seen substantial growth year on year reaching an impressive $5 million approximate turnover at the end of 2018.
With plans to follow the success of the USA facility in the UK market, Polysol UK was born, headed up by Managing Director John Rodgers. Approached by the company due to his wealth of industry experience gained through a previous role as European Operations Manager for a global manufacturer of plastisol based products, John was persuaded out of retirement and was delighted to secure premises for the production facility in Brucefield Industry Park in Livingston.
“This year, we put production in place to support 5-7 million lbs capacity of plastisol and in 2020 our focus will be to acquire new customers in the outdoor furniture market. One potential problem we faced was cash flow and having enough capital to balance the rapid growth was a major concern.” said John Rodgers, Managing Director of Polysol UK.
He added, “After exploring various funding options, I approached Business Loans Scotland and approval for our loan application was granted. New companies tend to be subject to pro forma purchasing status, and cash up front is a necessity throughout the set up phase.”
With new business secured in the UK and production for a Turkish customer moving from the USA base to the Livingston facility, John explains the importance of securing funding through BLS:
“On 12th September 2019 our first production batches were dispatched from our Livingston facility, in what was the first of what I hope will be, one of many milestones in the history of Polysol UK. I would have no hesitation in recommending BLS to other companies looking to set up or indeed expand their operations. The funding from BLS was granted at an attractive rate and has therefore been invaluable in supporting our start-up operation in the UK.”
Speaking of the investment in Polysol UK, Andrew Dickson, Fund Manager of Business Loans Scotland said:
“The £75,000 invested in Polysol UK demonstrates our commitment to supporting small and medium sized enterprises across Scotland with finance to start up and grow. With essential working capital now in place, I look forward to watching Polysol UK flourish and would encourage any other Scottish business looking for access to funding to visit the BLS website to see how we can help.”