Adam Bazeley and Glenn Griffiths founded Mediumz in 2004 after discovering a niche in the market to produce metal detector and checkweigher test pieces and x-ray test cards. The business’s primary customer base are the pharmaceutical and food industries, which both have strict regulations requiring products to be x-rayed and weighed before sale.
Adam and Glenn spent 12 years working on a production line within a plastics fabrication company before founding Mediumz and have subsequently grown the company into a 13-strong team based in Northampton. Frequent repeat purchase orders and excellent customer service has resulted in Mediumz growing steadily in recent years.
Exports make up around 80 per cent of Mediumz’s sales as the company serves customers in 68 different countries around the world, with its largest customer based in Germany. But while exporting brings opportunity, it also brings challenges with cashflow due to differing payment times of customers around the world.
To overcome this issue, the business turned to Bibby Financial Services, which agreed a £100,000 Export Finance facility, providing funding and support for Adam and Glenn. Since this time, Mediumz has exceeded forecasted sales by more than 20 per cent.
Adam said: “We’re a highly export-focused business, which offers huge advantages, but it also presents some challenges including customer payment times and language barriers.”
“Having such a diverse and internationally focused ledger meant that we needed a global funding partner that understands and operates in overseas markets. Not only does BFS have a specialist Export Finance team, it’s multilingual and multicurrency capabilities are a big help.
“Collecting payment from overseas customers was an area where we had experienced difficulty in the past, but the bilingual team at BFS have made a huge difference. Since working with BFS, we’ve been able to take on more export orders and grow our business accordingly.”