The funds they received were used to move the business into a 7,000 square foot premises and to recruit an additional three staff members.
This allowed Northern Vaporisers to produce lighter, better value aluminium Vaporisers in-house, reducing the cost of production whilst maintaining quality, despite the increasing demand.
Total borrowed (approx.)
Average amount lent (approx.)
Their new aluminium model has replaced the previous heavier brass unit, leading to 85% of their vaporisers now being sold to foreign markets including several major customers in the US such as Vetamac, Jorgensen Vets and Hartland Medical.
To optimise this international success they had to expand their business quickly and found that Avigo Capital were able to offer the assistance they needed when more traditional finance routes were unavailable.
“We’re always hearing from the Government that exports are key to the economic recovery. Unfortunately that message doesn’t seem to have trickled down to the banks, who were unwilling to help.
We were able to secure funding through Avigo Capital and thankfully the process was quick and simple – they took a serious look at the business, even coming to visit us on site, and got things moving without delay”