Oprema has created 15 new jobs having moved to a new 15,000 sq ft premises after securing an £850,000 co-investment from HSBC and Finance Wales.
The funding comprised a £350,000 commercial mortgage and £100,000 VAT loan from HSBC, and £400,000 from Finance Wales to refurbish the new premises, which completed in June. The HSBC funding forms part of a £2.6 million finance facility it has in place with Oprema to help it grow its import business and to support the day-to-day running of the company.
Matthew Epps, Managing Director at Oprema, comments: “The whole team is really excited about the future of the company, especially the recent move to our new premises in Cardiff. The move took place at the end of June, creating 15 new jobs and further expanding the reach and capabilities of our operation and distribution. This expansion allows for a greater stock holding of up to £5 million and improved logistics.”
Warren Lewis, HSBC’s Head of Corporate Banking in South Wales, added: “HSBC has banked Oprema since 2013, but it has been the last couple of years where we’ve seen the business start to grow rapidly. Matt has a clear vision for the business and we have been impressed by his tenacity and professionalism during this incredibly busy time. By introducing Oprema to Finance Wales we have been able to work collaboratively and strategically to ensure Matt received a funding package that was tailored to his needs, and we continue to support the business with multi-million pound facilities that will help it realise its future growth ambitions.”
The new headquarters has undergone a full refurbishment, including the development of a pre-configuration centre within the technical support department and creation of a purpose-built training and demonstration suite. Featuring a retractable wall, the training and demonstration suite provides a flexible space to host a range of events, from large scale open days to more intimate sales meetings.
Leanna Davies, Senior Portfolio Executive and Navid Falatoori, Investment Executive who structured the investment for Finance Wales, said: “The Oprema management team has a strong track record in growing businesses as well as extensive experience of the sector. Their detailed plans show an ambition for rapid and sustainable growth. We were delighted to work with HSBC to structure an investment to support their growth. As an active co-investor we’re always eager for opportunities to work on commercial investments with other funders. It’s been a pleasure to work on this deal with Oprema and the team at HSBC.”