BARCLAYS has announced a six figure finance package to a Poole-based manufacturer and supplier of high pressure hoses and marine products.

Hyphose has an annual turnover of £4.5m and has recently moved its Poole operation to new premises at Abingdon Road on the Nuffield Industrial Estate.

The firm already has trade counter outlets in Southampton and Portsmouth with plans to launch a new head office at Ringwood.

The business, with 39 employees, supplies hydraulic, water, air, steam and chemical hoses and couplings internationally. It serves the food, farming, construction and marine industries, as well as machinery manufacturers, factory maintenance and the Ministry of Defence.

A network of mobile Hose Doctor vans operate a 24 hour repair service along the south coast to be able to respond rapidly to customers onsite service requirements.

The Barclays finance package, will allow the business to increase its capacity to service a growing order book as well as hire additional fitters and expand its apprenticeship scheme.

Steve Grinter, managing director at Hyphose said: “The funding from Barclays will allow us to continue to meet our growth aspirations and take on new employees.”

Mike Union, Barclays relationship director at Poole, added: “Hyphose has carved a niche for itself in a competitive market and is enjoying strong growth. We are fully committed to supporting the business as its looks to continue to build on its success and expand its business across the south of England.”