Opportunity Knocks for CDC
Presenting at September’s investment forum in Leeds proved to be the lucky break that Mark Hinchliffe had been hoping for. His business, Composite Door Company Ltd (CDC), had been finding trading conditions difficult, despite a strong product and well-established sales. Unable to secure bank finance to grow the business, Mark looked to YABA as a possible source of investment.
Mark’s presentation and business proposition impressed business angel Stephen Martin so much that his investment of £70,000 into CDC was completed within six weeks of the investment forum. “I could see that CDC was potentially a very successful enterprise that needed an injection of working capital to move forward,” he says. “Composite doors are the latest in door design and manufacture. They have the aesthetic appeal of wood but without the maintenance; they’re also very secure and energy efficient.”
The investment gave the green light to a website re-vamp and a long-planned television advertising campaign, reaping rewards with a big increase in enquiries. “We’re concentrating on building up the UK market at the moment and have recently won a large social housing contract due to the quality of our product and its high performance in fire safety tests,” says Mark. “We’re also looking into developing a franchise model and breaking into overseas markets.”
Mark is convinced the investment has an extra dimension that wouldn’t have been available from traditional funding sources. “It’s not just about the money,” says Mark. “Stephen understood the frustration of my position and saw the potential in the business. We speak daily about progress and strategy - we’re both ‘doers’ and that means that things are moving fast.”
It’s a sentiment echoed by Stephen: “My commercial experience means that I can mentor Mark and guide him in building the business. I’m confident that CDC will break the £1m turnover barrier this financial year and £3m the following year.”
