A Doncaster door company is booming after spotting a window of opportunity to sell thousands of fire doors to councils in London.
Sentry Doors is set to create 10 jobs and more than double turnover - up from £1.5m last year to £4m - after winning major contracts with local authorities and housing associations looking to upgrade due to legal changes.
The family-owned company has sold fire retardent door sets that are being fitted in dozens of tower blocks across London and the South East.
Established in 1989 by Gordon Yates, Sentry Doors has clients across the UK in sectors including health, education and hospitality.
Gordon Yates said: “Sentry Doors made a strategic decision in 2011 to refocus the business and concentrate on higher value products. This involved us relocating to one of our smaller units in Carcroft, Doncaster.
“Coupled with this, strategic partnerships with other organisations such as London Fire Solutions, a company with extensive knowledge of the fire protection industry, enabled us to identify and win opportunities in the capital.
“However, as business grew we were in danger of not being able to service these new contracts as our bank was just not fast or flexible enough to make funding decisions to support us. Therefore, we are indebted to Reward Invoice Finance because without its support we would not be on the growth path we are today.
“We are now in a position to fully exit our relationship with our bank as we have paid down our loan facilities and now have other options to assist with our growth journey, beginning with the recruitment of a business development manager to specifically focus on work in London. It’s an exciting time for Sentry Doors.”
Sentry was backed with funding, understood to be about £500,000, from business lender Reward Invoice Finance, a division of Leeds-based parent Reward Finance Group.
Reward Invoice Finance provided an extensive finance line against outstanding invoices and put in place a substantial overpayment facility to enable the continued growth of the company and to fund the additional stock levels Sentry is now having to carry.
Dave Jones, joint managing director at Reward Invoice Finance, said: “Many commentators talk about the North/South divide and it’s refreshing to see a Yorkshire company with a quality product buck the trend by hard work, effort and skill.”
Sentry Doors received accounting and business advice from Kevin Fitton of Smith Craven, also based in Doncaster. Reward was advised by Clarion solicitors.