A Stoke-on-Trent ceramics manufacturer has secured a £400,000 investment to help safeguard jobs and expand its range of products.
Wade Ceramics, which has factories in Etruria and Longton, was awarded the funding from The Midlands Engine Investment Fund's (MEIF) Debt Finance Fund.
The company, which employs more than 200 staff in the Potteries, has been producing high quality ceramics and ornamental homeware for more than 200 years.
It operates across a variety of industries and works with well-known brands including Tetley, Glenfiddich, Cadbury and Mr Men and Little Miss to create collectables which are sought after across the world.
It is probably best known for its iconic Gluggle Jug product.
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Now Wade Ceramics will use the funding to safeguard its current employees and establish new partnerships to help grow its existing product range.
Managing director Paul Farmer OBE said: "The year 2020 was a complete mixed bag for Wade, with certain markets struggling with the impact of the worldwide pandemic, offset by other markets showing rapid growth.
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"The Gluggle Jugs we both manufacture and sell are growing exponentially and we need to increase production and staff.
"This loan will help in this area as well as helping to re-build our other markets as we move forward into pre-pandemic levels of demand."
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Kerry Haughton, investment manager at The FSE Group, which manages the MEIF Debt Finance Fund, said: "Paul and his team are highly experienced and passionate about staying at the top of their game.
"Wade's ceramics are all carefully crafted and their latest designs keep up with current trends which appeal to new customers – who can forget the classic NatWest piggy banks in the 80's and 90's?
"It was a pleasure to be able to source the MEIF funding for Paul so that the business can continue to grow and create beautiful keepsakes."
Ryan Cartwright, of the British Business Bank, added: "Accelerating the growth of SMEs, like Wade Ceramics, is a key objective for the MEIF and this latest deal will allow the company to secure new partnerships and product offerings.
"We would encourage other businesses looking to grow in the Stoke-on-Trent and Staffordshire area to consider MEIF funding."