Success Story
A Queen’s Award-winning company that supplies bearings worldwide raised £500,000 from NPIF II – Mercia Debt Finance, which is managed by Mercia Debt as part of the Northern Powerhouse Investment Fund II (NPIF II).
| Region/Nation | Yorkshire and Humber |
|---|---|
| Sector | Wholesale and Retail Trade |
| Programme | Northern Powerhouse Investment Fund II |
The funding will help Quality Bearings Online to boost its exports to South America and expand into other sectors. The Leeds-based company currently supplies manufacturing and engineering firms in over 120 countries, with exports accounting for more than 90% of its turnover.
Quality Bearings was one of the the first online suppliers of its type when it was set up in 2012, and won the Queen's Award for Enterprise International Trade in 2022. Last year it launched a trade sales division, QBOL World, after acquiring the asset of another bearings supplier, Euro World. It has also expanded into a second unit adjacent to its existing premises and achieved a 28% increase in turnover.
The business, which is led by Denny Maude and Simon Riley, currently employs 27 staff. The NPIF II funding will provide additional working capital to support its growth plans, which include establishing a new division to serve the aerospace, defence and advanced engineering sectors, and the creation of three new jobs.
Denny Maude, CEO of Quality Bearings, said:
By embracing e-commerce, Quality Bearings brought a fresh approach to a traditional industry where sales were handled over trade counters. Our ability to quickly source products and deliver to customers worldwide, often within one to two days, has been key to our success. Looking ahead, we are focused on continued growth and becoming the number one choice for premium bearing supplies on a global scale.
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