Business & Economy
Middlesbrough record maker pressing on after turnover landmark
March 24, 2023
A vinyl record maker is pushing on with job plans after smashing a headline financial target.
Press On Vinyl wants staff after reaching £1 million turnover in its first year.
And bosses at the Middlesbrough company now aim to increase its 31-strong team to nearly 40 by the end of 2023.
They say the additions – coupled with the purchase of machines to double production capacity to 6000 records a day – will strengthen the firm’s position as the UK’s largest vinyl maker by output.
David Todd, co-founder and commercial director, said: “Listeners still love a physical and beautifully crafted record.
“And labels too see the value in having vinyl versions of artists’ albums.”
The business’ growth has been supported by NPIF – FW Capital Debt Finance.
David added: “The funding from the team at NPIF and FW Capital has been instrumental in getting us off the ground and we look forward to working together again.”
Dave Hawkins, FW Capital portfolio executive, said: “Press On Vinyl is a fantastic example of how NPIF funding can help support expansion and new job creation.
“David – and co-founder Daniel Lowe – bring a great passion to their business and are a pleasure to work with.
“We are delighted to be part of the company’s growth journey and helping them to become one of the region’s success stories.”
Sean Hutchinson, from the British Business Bank, added: “The age of digitalisation can sometimes lead us astray from the brilliant products we grew up with, so it is great that NPIF is able to support an exciting Northern business that is reconnecting people with vinyl records.
“David and Daniel are fantastic entrepreneurs, delivering high-quality results in what is a difficult period for manufacturers.”