Prudhoe-based supply chain management company, GMS is celebrating its recent recognition as the Premier Supplier for Europe & Asia by Joy Global, a world-leading name in the mining sector.
The award recognises GMS’ outstanding performance in relation to product quality and ‘on-time’ deliveries. It tops a highly successful year for GMS since it received a £450,000 mezzanine loan from the North East Growth Plus Fund managed by FW Capital in 2013.
FW Capital’s investment backed GMS’ five-year growth plan and provided it with the working capital to fund the delivery of new contracts, enabling it to take on 5 additional staff and safeguard 15 local jobs.
In the 12 months since it received the loan, global order levels have increased by 20% as GMS has developed its presence in key Eastern European and Australasian markets. It has also expanded its supply chain in China.
Now exporting to 22 countries worldwide, GMS has also added big names such as Indesit and Hotpoint to its growing blue chip client list.
Commenting on GMS’ success, Managing Director Owen Ingram said: “The GMS way is to ensure that all aspects of customer care are at the forefront of everything we do. Being recognised by a worldwide provider like Joy Global clearly demonstrates our commitment to achieving the right standards. The mining sector is one of a number of global industrial markets we’re targeting as part of our expansion.
“With FW Capital’s backing we’ve been able to make significant inroads in new international markets and engage specialists to develop our Chinese supply chains.
FW Capital understood our business plan and provided a funding package with the flexibility to enable us to achieve our goals.”
GMS sources machined parts from all over the globe for UK-based manufacturers operating in sectors such as mining, automotive, medical, agricultural and energy.
FW Capital Investment Executive, Michael Vassallo said: “GMS is an award-winning supply chain specialist with a committed management team and considerable growth potential. While the GMS’ recent successes have raised its profile and attracted new clients, it is also building on its long-established relationships with its global customer and supplier base as part of its expansion.
“Owen and his team have achieved a great deal in the year since we invested and their experience, expertise and commitment have all contributed to their success. They have a clear vision of how they want to build their business and FW Capital is pleased to have provided them with the capital they need and also to ensure that the funding structure is aligned with their plans.”
While outsourcing to China in the manufacturing sector remains a popular, low cost option, delivered quality can be an issue. GMS’ focused service ensures that its customers receive quality-assured products and reliable deliveries to help they stay ahead of the competition.
FW Capital made the investment from the North East Growth Plus Fund which is part of the £125 million Finance for Business North East Fund. The fund is targeted at established businesses in the region and can provide single-round investments of between £350,000 and £1.25 million.