AN aluminium fabricator in Blackburn has been given the chance to expand with a £4.6million loan from financiers.

Bosses at Alufold, based on the Whitebirk Industrial Estate, have secured the funding from OakNorth Bank and Literacy Capital.

Craig Miller and wife Lorraine only launched Alufold, which makes aluminium products for the residential and commercial building markets, in 2013.

But after starting out in Waterside Road, Haslingden, they now have a manufacturing hub in Blackburn and more than 100 employees.

Mr Miller, who following the funding announcement will now act as chairman as well as managing director, said: "We’re excited to welcome Literacy Capital as our investor in AluFold.

"We look forward to benefitting from their experience to assist continuing to grow the business as we focus on broadening our product range and expanding capacity, taking full advantage of the market opportunity at hand."

Their three-year plan, following an influx of orders for larger-scale projects, is to look for an additional site to help the company meet capacity demands.

Last August they began promoting their own 'installers academy' and have extended their commercial profile, after their involvement in a £2.4million scheme to overhaul Westregen House in Bolton for the Krones Group.

And in 2018 the outfit was named the Manufacturing Company of the Year (Under £25m) at the Made in the North West Awards, as well as securing a string of other regional nominations.

Paul Pindar, chairman and co-founder of Literacy Capital, added: “We are delighted to complete our investment in AluFold Direct.

"Craig and Lorraine Miller have done a fantastic job founding and growing the business to its current size and we are excited to be working with Craig and the team to take advantage of the growing market, amid increasing popularity for aluminium products across the country.

Deepesh Thakrar, senior debt finance director at OakNorth, said: “With household usage of aluminium products increasing, coupled with a decrease in popularity for traditional PVC-based products, now is an opportune time for Literacy to invest in AluFold Direct."