A Warwickshire Manufacturer Has Been Praised By A Government Minister For Its Success In Investing In Growth And Creating New Jobs.

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Ricor Limited, based in Studley, has been in business for more than 40 years and manufactures metal pressings and welded assemblies for a wide range of sectors including automotive, power generation, retail and green industry technologies.

The company, which also has a manufacturing facility in Poznan in Poland, has grown from an £8 million turnover business in 2008 to £40 million in 2015 and has ambitions to grow further.

Ricor is expanding its factory in Studley, building a new facility in Poland and has also recently invested 3 million Euro in a 1,000 tonne AIDA transfer press. It has been supported in its growth over the last 12 months by the Coventry and Warwickshire Growth Hub.

The Growth Hub has provided advice and support in helping the company through the planning system for its expansion, as well as assisting the company to obtain a £50,000 grant.

Following a successful period of growth, Ricor also has visions to establish its own advanced manufacturing training facility on its premises.

Secretary of State for Business, Innovation and Skills Sajid Javid MP visited Ricor to see behind the scenes of a growing and successful manufacturer. 

He said: “The Government is backing the Midlands to be an engine for growth and I want to see even more companies like Ricor investing, growing and creating jobs for people.

“The Coventry and Warwickshire Growth Hub will continue to play a vital role by combining expert local advice with access to national support, to help firms across the region reach their potential.”

John Beary, managing director of Ricor, said the firm welcomed the visit to explain the company’s expansion plans, vision for the future and how it has received support from the Growth Hub.

He said: “The company has grown substantially since 2008, when we employed 50 people, to a £40 million turnover business which now employs 350 people.

“We’re investing heavily in extending our facility in Studley and buying a new factory in Poland and have big plans to continue the growth we’ve achieved over the last seven years.

“We are aiming to be turning over £60 million within five years, and we have a vision to create our own training facility to support us in developing people with the right skills we need.

“The Growth Hub is helping us to access funding and different channels of support to continue the expansion of the company and we welcomed the opportunity to share our story with the minister about how we’ve got to where we are and our ambitions for the years to come.”

The Coventry and Warwickshire Growth Hub, which provides support and advice for businesses, was formed by the Coventry and Warwickshire Local Enterprise Partnership as part of its City Deal with Government.

Partners involved include the Coventry and Warwickshire Chamber of Commerce, UKTI, Local Authorities across the sub-region, Coventry University, the University of Warwick and MAS (Manufacturing Advisory Service now part of the Business Growth Service).

Craig Humphrey, managing director of the Coventry and Warwickshire Growth Hub, said: “Ricor is a big success story for Warwickshire and the wider Midlands region.

“The company has achieved remarkable growth and we’re delighted to have supported John and the Ricor team as a strategic partner over the last 12 months.

“Our team gives advice and help to many companies to help them grow and it is fantastic to play a part in success stories such as Ricor.”

 

PICTURE CAPTION – left to right - Craig Humphrey, managing director of the Coventry and Warwickshire Growth Hub, Secretary of State for Business, Innovation and Skills Sajid Javid MP and John Beary, managing director of Ricor

 

 

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Client testimonials

Without the Growth Hubs help and assistance, we would never have been able to increase our sales & output and also grow our local business. With this help in purchasing new equipment we have expanded our operations and gained a new and increased customer base.

Nuneaton Roof Truss,

Over the past few years, Armstrongs has built up a fantastic relationship with Gary Thyeson from the Growth Hub. His advice on grants and funding has been really valuable to both Armstrongs and some of our clients. His knowledge of local business support has been helpful in signposting us to relevant support agencies as required. We look forward to working with Laura Delahunty moving forwards.

Armstrongs Accountancy LTD,

In the short time since first engaging with the Warwickshire Growth Hub we feel that Laura has understood our vision and has been so very supportive in linking us to the specialist teams who are now supporting us with training, finance and recruitment. A great service that every growing organisation should connect with

MES Systems Limited,

I have had an excellent experience working with Laura from the Growth Hub, from day one, she was taking detailed attention to my concerns and ideas. She was able to put me in contact with different organisations and people to find out answers to my questions and help me to solve some inquiries I was having. I feel this support definitely had a positive impact in my plans. 

 

PALACIOS LTD,

It’s been a fantastic inaugural eight months for the TalentTech Recruitment team and, although the reality of setting up and running a company can be a somewhat daunting experience, we have been extremely grateful for the superb help, advice and guidance given to us along our journey by Gavin Barnett and the team at CW Growth Hub. Gavin’s introductions to both Warwick & Coventry Universities and his wider business network have been absolutely invaluable.

TalentTech Recruitment LTD,

For many individuals out there, it is very hard to figure out ways and know which direction to go when it comes to setting up a business. The challenges of taking your idea and bringing it to life and not knowing where to go and who to speak to for advice. it can get very frustrating..

King of Saffron LTD,

This grant [which we received with the help of the Growth Hub and Coventry City Council] will really help us get on track for business growth and succeed with our vision. Personally, I would also like to thank the team for supporting me through the grant application process. You have been very approachable and attentive throughout.

Exeter Analytical (UK) Limited,

Thank you for the comprehensive and professional guidance

Burbidge & Son Ltd,

Over the years since the Growth Hub was set up we have habitually gone to our Account Manager as a one-stop shop for all business-related information.  It has been a really convenient way of finding suppliers, advisors and, on one occasion, we even asked for assistance with finding customers.  We are invited to a wide range of business events including business development workshops, Brexit roundtable discussions, seminars on various topics and have also been asked to speak at some events.  When we have needed additional information, for example, finding finance sources or help with selecti

Marchantcain Design Limited,

Thanks to CW Growth hub getting us access to grant funding we have been able to invest in the latest computer monitoring system, which will enable us to compete with the national companies within our industry.

Comrie Leisure Limited,

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