Shropshire television stand firm planning fresh growth
A Telford-based television wall-mount maker is gearing up to expand its range across the world after securing a major finance package.
Earlier this month the AVF Group, which is based on the Hortonwood Industrial Estate, secured a new £2.68 million financing arrangement with Santander.
Now the company hopes to use the money to open up new markets in Europe and South America, and to develop new products that fit with the radical changes in the way people watch television.
Established in the 1970s, AVF has become a major player in the supply of high-quality TV wall-mounts, TV stands and support systems into some of the world's largest retailers including Costco, Currys, John Lewis, Tesco and Walmart.
AVF chief executive David Gallimore said: "There has been a massive transformation of the television market, which has meant the things we supply have also been transformed.
"With that transformation, we ended manufacturing almost 10 years ago, and our products these days are manufactured in China.
"Over time we have transformed what we do with products because. It's no longer just metal accessories but other materials as well."
He added: "The key thing now is to take all those products in new markets like South America, and expand, and that's really the purpose of the funding we have got.
"We already operate in the USA and China, but really this is the hub of what we do, and the extra people we take on will be here. We a little over 50 in total at the moment, and about two thirds of that number are in Telford.
"We are looking to grow by about 10 per cent to allow us to do market research and to have more products for those markets depending on what that research reveals."
AVF has annual turnover of £15 million, and has facilities in California and Shanghai.
Canada is a key market for the business, as is the UK, and it hopes to use its location in the USA to spread further across the western continents.
Innovation director Simon West said: "Historically we were all about wall mounts. That was a big thing we did to allow us to take things like televisions, put them on the wall and free up floor space.
"That has become more and more relevant with televisions getting thinner.
"Now we are not just looking at wall mounting, but to develop products that allow people to get more from their television when it's on the floor. it's a different type of floor stand and entertainment centre, and it allows you to put your television in the corner and accommodate other equipment."
"We are also looking at areas that are not just for the TV. We have really branched out and are looking at other furniture around the home.
He added: "Wherever we operate we try to deal with the biggest retailers in those markets."
Debbie Partridge, Relationship Director, Santander Corporate & Commercial, said: "AVF is a great UK business that already punches above its weight on a global level. Our partnership will help this to continue and form the foundations for an exciting future of expansion."
