A year on from securing a six-figure SSI Task Force grant, Middlesbrough-based firm MB Distribution Ltd’s plans of expansion and job creation are coming to fruition, with support from Baldwins, a CogitalGroup company.
The family business is playing a key role in the regeneration of East Middlesbrough and hopes to create jobs upon completion of its brand new £2.5 million flagship premises.
The grant has enabled the firm to build a 30,000 sq ft bespoke warehouse and retail outlet, which has been erected, and work on the internal elements of the building is set to commence.
MB Distribution Ltd is a specialist supplier to the home improvement industry and its expansion has been backed by £247,000 in funding from the Tees Valley Capital Grant, managed by the Tees Valley Combined Authority, which was secured with support from Baldwins, a CogitalGroup company.
The grant was set up by the SSI Task Force to help local firms grow, which in turn would create jobs, helping to get people into work and grow the economy; supporting its recovery from the closure of SSI.
Managing Director of MB Distribution Ltd Mike Greenup said: “We have invested in over three acres of land, close to A66 transport links, and the building is looking fantastic. We can’t wait to see the finished look once the interior is complete.
“The business could not grow any further in its current premises and the new building is crucial to the next stage of our development, as it will allow us to broaden our product and geographical range.
“Once the building is up and running we anticipate new jobs in the warehouse, shop, administration and potentially marketing.
“We hope to get the keys before Christmas, with the official opening taking place around February. Watch this space!”
One of the UK’s fastest growing accountancy firms, Baldwins has worked with the business for 20 years, providing auditing and advisory services.
Baldwins Partner Andrew Rowe said: “It has been brilliant to see what is at heart still a family business, grow into a national player and become one of Teesside’s major success stories. We feel really proud to have advised the company along this journey.
“At Baldwins we have a vast array of expertise for growing businesses, not just on the day-to-day accounts and tax side, but by being able to advise them at the different stages of their business life cycle. We will work closely with MB Distribution Ltd in its next stage of growth and the various challenges that will bring.”
Chair of the SSI Task Force, Amanda Skelton, said, “Over the past three years the Task Force has helped to create nearly 2,000 jobs by investing in local companies.
“MB Distribution is an example of an ambitious local business needing some support to release its expansion plans. Help is still available through our Tees Valley Capital Grant Scheme for like-minded entrepreneurs.”
MB Distribution Ltd is a specialist supplier to both trade and retail companies and has a vast portfolio ranging from door and window hardware, to internal and external PVC cladding and more. For further information about its products, please visit www.mbdiy.co.uk/
Baldwins specialises in accountancy and business advisory services, including corporate finance and specialist tax advice to all businesses from start-ups to mature companies, across a broad range of business sectors. For more information about its services, please visit www.baldwinsaccountants.co.uk
Twitter – @baldwinsandco, @baldwinsNEast and @MBDIYuk
Press Shot 1: (L-R) Baldwins Partner Andrew Rowe and Managing Director of MB Distribution Ltd Mike Greenup
Press Shot 2: (L-R) Managing Director of MB Distribution Ltd Mike Greenup and Baldwins Partner Andrew Rowe
Press Shot 3: MB Distribution Ltd
There is still SSI Task Force funding available in the Tees Valley Capital Grant Scheme which provides grants for capital investment projects. There have been nearly 240 successful applications from businesses right across the Tees Valley which have created more than 1,200 jobs, safeguarded more than 420 others and attracted more than £51 million in match funding from the private sector. Of the £53 million of Government funding for the SSI Task Force more than £51 million has now been allocated. Log on to www.redcar-cleveland.gov.uk/SSITaskForce to find out more.