Comms agency builds larger premises after £1.6m funding deal
A Birmingham communications agency has built larger premises and is introducing new client services following a £1.6m funding package.
Jones and Palmer, based on Carver Street, is a family business that was originally established in 1906 as a printing company. Over the past 15 years, it has grown and developed its corporate communications services offer to major clients across the country, including United Utilities, Superdry and IP Group, plus regional firms such as Halfords and Ocado.
Managing director James Houston, whose grandfather bought Jones and Palmer in the 1950s, turned to Lloyds Bank for funding support after the business outgrew its previous site.
The £1.6m funding package, which included a £750,000 working capital facility, enabled the business to complete its new premises, The Media Works (see below). The site provides 15,000 sq ft of office space in Birmingham’s historic Jewellery Quarter.
This has given the agency the space to continue its expansion and provide a wider range of services, which now includes brand development consultancy. It is also looking to rent the remaining offices in the building to other creative businesses in the area.
Jones and Palmer has an annual turnover of £3.5m and currently employs 52 people, but is looking to expand its team as the business continues to grow.
James Houston, managing director at Jones and Palmer, said: “The expansion of our premises and introduction of new services is a positive step forward in expanding our growth and maintaining our competitiveness in a crowded market.
“We’ve been growing organically over the past few years but with our impressive new work space, we’re looking to further accelerate this growth and attract likeminded, creative businesses to The Media Works. The support from Lloyds Bank has been invaluable in helping us to expand and achieve our vision of developing an exciting and collaborative creative hub in the heart of Birmingham.”
Darren Billinge, relationship director at Lloyds Bank Commercial Banking, said: “It’s great to see Jones and Palmer flying the flag for businesses in Birmingham and investing in growth.”