Hobs Reprographics has secured a £7 million investment from the Business Growth Fund, the funder that has invested £10 million in York Mailing’s expansion plans.
Growth for Hobs Reprographics focuses on taking its 3D printing expertise around the UK. It operates the largest 3D printing bureau in London and has an operation in Manchester and eyes on development in Scotland and Birmingham. Hobs’ head office remains in Liverpool. It envisages a national service of 3D printing to the AEC sector, to product designers and potentially to the health sector.
The company began its expansion into 3D printing to support the traditional plan printing and technical documentation to the construction industry. It installed 3D printers in premises in Farringdon Road before opening its first bureau in Manchester at the end of last year, followed by a purpose site in Clerkenwell earlier this year.
However, the company has 29 sites across the UK providing large format and digital print services, employing 300 and generating revenues of £30 million. The funding from BGF will accelerate the roll out of 3D printing to some of these sites.
Chief executive and founder Kieran O’Brien says: “Our first Hobs Studios have been highly valued by our customers and we now want to replicate this model across the country. Equipping the studios is capital intensive and so it made absolute sense for us to find a long-term equity partner that could help us achieve this.”
The London Studio operates several 3D Systems Projet machines working in 100 micron layers, a Projet 3500 HD Max printer working in 16 micron layers and a stereolithographic printer representing a £350,000 spend. 3D printing also requires finishing systems and software.
O’Brien retains the majority shareholding. The board is augmented by Peter Bertram as non-executive chairman. Bertram has experience in the business services sector having been chief executive of Azian Group. He is also chairman of Ten Alps, the media company co founded by Bob Geldof, non-executive chairman of Micron and non-executive chairman of Phoenix IT. BGF senior investment manager Neil Inskip also joins the board. He comments: “It is testament to the strength of the business model and management team that Hobs has consistently been at the forefront of technological change within the printing industry, which has allowed it to take advantage of opportunities in the market.”
O’Brien was assisted in identifying BGF as the preferred backer by Clearwater International where partner Paul Jones was involved in structuring the deal. Jones says: “The business can now build upon its position at the technological forefront of digital and print services. The funding will enable Hobs to roll out its state of the art 3D printing studios across the UK, as well as consolidating its position as provider of services to both leading public and private organisations and the legal sector.”
Hobs Studio has operations in London and Manchester, providing 3D printing services to architects and others in the construction industry. Demand will increase as new regulations require a 3D model of any development and as those in the construction industry become aware of the benefits of 3D printing.
