A GARDEN products, manufacturing and retail business is to expand after securing a six- figure investment deal.
Tricor International Limited, in Marske, east Cleveland, expects to use the cash injection to develop product ranges, increase turnover by more than 50 per cent and expand its workforce, which at present is 15.
Founded in 1998, it initially concentrated on supplying containers to commercial landscape gardeners, but is now planning to move into the retail sector planters, water features and other garden products.
Managing director Yolanda Lacey said: "The explosion in garden design programmes in recent years has certainly had a positive impact on our market and this new investment will help us take greater advantage of it over the coming years."
The investment in Tricor has been made by Evolve, the specialist debt and mezzanine finance division of North-East fund management company NEL.
Mike Hird, business manager at NEL's Teesside office, said: "Tricor is an excellent example of the kind of business in which we're looking to invest and we're very pleased to be working with Tricor to help them realise their business goals."
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