Revolution in the air for former Apprentice star’s latest venture
Innovative British manufacturing firm SA Vortex Ltd, headed up by former Apprentice finalist Syed Ahmed, has secured a £250k factoring facility through independent Invoice and Asset Based lender, Venture Finance.
Syed Ahmed, who became a household name after going toe-to-toe with Lord Sugar in series two of The Apprentice, is now set to revolutionise the commercial washroom industry. Syed has got the hand-dryer industry in a spin after launching the Vortex Hand Dryer; the greenest, quietest and fastest product on the market.
Now thanks to a deal with Venture, the company has secured the funding needed to release working capital and fuel aggressive organic growth. It is a milestone for the company that enables them to move beyond an equity-funded past to leveraging finance against real sales.
Syed Ahmed, chief executive of the London and Wiltshire-based company said: “My aim with SA Vortex was to found a company that could produce innovative British-designed products and moreover be efficient in the workplace, sustainable and economical in today’s environment by reducing energy costs and saving on electricity.
“Our innovative Vortex Hand Dryer achieves all of those objectives and thanks to our deal with Venture, we’ll be able to continue to build on the growth that we’ve achieved to date. These are exciting times at SA Vortex and Venture offer us the professionalism, speed, reliability and flexibility we need to keep up with demand.”
The Vortex Hand Dryer is the first product to be launched by the company. Unlike other commercially available dryers, the Vortex removes the need for uneconomical and environmentally unfriendly heating elements, using up to 92% less energy than other dryers on the market and saving an extraordinary 98.4% against paper towels.
Mike Davis Regional Manager at Venture Finance, comments: “It is great to be able to support such a genuinely pioneering company which has the potential to revolutionise the hand-dryer industry. Now the company is accessing finance which matches their sales performance, there’s no telling how far they could go.”
For more information, images or an interview with Syed Ahmed or Mike Davis please contact:
Daniel Bettridge or Lauren Greatorex at Man Bites Dog
01273 716 820
About Venture Finance
Venture Finance is an award-winning independent Invoice and Asset Based Lender, established in 1989. Venture provides Factoring, Invoice Discounting, Export Finance, Structured Finance and numerous related services to start-ups through to £150m turnover organisations. Providing consistent support via its 200+ staff and 11 regional offices, Venture helps clients manage cash flow, refinance, restructure, fund business opportunities and expansion, purchase new equipment and finance M&As. Venture is part of the ABN AMRO group and ultimately owned by the Dutch Government.
Why so special?
SA Vortex’s unique patented vortex technology and regenerative heating technique, recycles heat and replaces the conventional heating elements found in the majority of today's hand dryers. Vortex technology actually breaks up water droplets on the skin accelerating drying times. This delivers low cost, fast, quieter drying in a longer life unit.
With an average 10 second drying time and using the least amount of electricity, Vortex dryers produce the industry's lowest heat emissions. This reduces not only electricity costs but also decreases strain on air-conditioning, increasing overall carbon efficiency; CO2 savings can easily be millions of kilograms over the life of the dryers. Vortex dryers are highly recyclable to enable full compliance with the WEEE directive. The Vortex has the lowest carbon footprint dryer in its class. The aluminium casing is coated with an anti bacterial layer for hygiene.
The Vortex range is highly cost effective to install, with easy retro-fitting and no new wiring requirements.
SA Vortex customers replacing existing competitor hand dryers can enjoy a payback period of 6 months to two years depending on the usage of the dryers. Against paper towels the savings are even more compelling at around 98.4% of the cost. 50 hand dries with 'The Vortex' will cost just a penny, 1 vortex 500 drier saves in the region of £16.5k over 10 years against paper towels.
The Vortex range is one of the only dryers in the world to utilise brushless motor technology. The Vortex employs Digital brushless motor technology, which is more than 4x more expensive to produce than a brushed blower but can last over 10x as long, allowing us to warranty the product for 5 years.
Read more at http://www.venture-finance.co.uk/home.aspx