Teesside-based vinyl manufacturing and distribution company Press on Vinyl raises 6 figure investment
A Middlesborough-based vinyl pressing company, based at the Tees Advanced Manufacturing Park (TeesAMP) in Teesside, is set to disrupt the growing vinyl record market after raising £475,000 in equity investment as part of a 7-figure round.
Press on Vinyl is a precision manufacturer and distributer of vinyl records, committed to lowering lead times and delivering the highest quality products with the best customer service standards to vinyl lovers worldwide. The company recently brought a state-of-the-art vinyl record pressing facility to Teesside, the first ever in the North of England.
Funding from this round will allow Press on Vinyl to pay for a second pressing machine and heat generator at their new vinyl pressing facility in Middlesborough to expedite the growth needed to be able to service sales. The company hopes to create 30 new jobs in the region by the end of the year.
The investment in Press on Vinyl came as the result of a collaborative pitch event between not-for-profit angel investment organisation NorthInvest and financial partner Azets (formerly Garbutt & Elliott), for the firm’s clients.
Jordan Dargue, Investment Director at NorthInvest said: “We’re delighted to have supported Press on Vinyl in securing this funding. The founding team combine their acumen in business and engineering with a deep, passionate knowledge of the music scene, making them the ideal candidates to spearhead the business. It was a pleasure to work with them and we’ll be following their progress closely in the future.”
Simon Palmer, Partner at Azets said: “As a huge fan of vinyl recordings, it was a total pleasure to introduce Press On Vinyl at NorthInvest’s pitch event. Garbutt + Elliott have partnered with NorthInvest for 4 years and having gotten to know some of the angel investors, I was convinced investment would follow. The investment has allowed the team at Press on Vinyl to finalise their UK manufacturing plant in Teesside, a fantastic outcome for the Investor, the company and the record buying public like myself!”
David Todd, Founding Director of Press on Vinyl said: “We aim to bring a solution to the acute lack of capacity worldwide. Using state of the art precision manufacturing machinery we will create top standard products for a range of customers from small independent artists through to independent labels and larger labels. We will bring this new skill to Middlesbrough and look to expand the output and job creation incrementally year on year.”