Locit, one of the UK's fastest growing steel locker manufacturers, has secured a £1 million investment from the Development Bank of Wales which will support its continued expansion, safeguard jobs and create new jobs in North Wales.
Based on Deeside Industrial Estate in Flintshire, Locit was established in 2022 by managing director Richard Williams alongside investment from Arete Capital Partners LLP. In just four years, the business has grown rapidly from a standing start into one of the largest independent locker manufacturers in the UK, delivering revenues of around £8.8 million in FY25.
The company has secured contracts with a number of high-profile national customers including The Gym Group, Pure Gym, Marks & Spencer, Primark and TK Maxx. It also supplies replacement parts to companies with existing lockers, creating additional recurring revenue streams.
The loan from the Development Bank will provide working capital to support the delivery of these large-scale contracts, as well as allowing investment in new equipment and automation as the business continues to grow. It is also expected to create up to four new jobs while safeguarding more than 60 existing roles at the Deeside site.
The funding will also drive growth in its locker rental division, something it moved into following its acquisition of Secure Locker Rentals in December 2023. This has enabled Locit to enter the growing school locker market, where it already has more than 54,000 compartments installed across the UK, with further opportunities linked to mobile phone storage solutions for schools.
Locit operates from a 67,000 sq ft manufacturing facility and has built its business around automation, efficiency and sustainability. The company is certified carbon neutral and has invested heavily in modern, computerised production systems to improve output and quality while supporting long-term growth.
Richard Williams brings significant industry experience, having previously built Lion Steel into the UK's largest locker manufacturer before selling the business in 2016. He founded Locit after identifying a gap in the market for a modern, high-capacity manufacturer capable of meeting demand at scale.
The company places a strong emphasis on its workforce, with a focus on developing skills internally, promoting from within and creating a supportive, team-oriented culture. As the business grows, it plans to continue investing in training and upskilling existing employees while creating new opportunities for local people.
Richard Williams, Managing Director of Locit, said:
“We've built Locit from the ground up to be a modern, forward-looking manufacturing business, investing in automation, sustainability and, most importantly, our people.
“This funding gives us the platform to continue that growth. It allows us to invest in new equipment, support the delivery of major contracts and create further opportunities within the business, while safeguarding the jobs we've worked hard to build.
“We are proud of the team we've created here in Deeside. Our focus has always been on developing people, giving them opportunities to grow and making sure they feel part of the journey. That culture is a big part of our success and will remain central as we scale.”
Chris Dhenin, Senior Investment Executive for the Wales Flexible Investment Fund at the Development Bank of Wales, said:
“Locit is a strong example of a Welsh manufacturing business achieving rapid growth by combining experienced leadership, modern production capability and a clear understanding of market demand.
“Richard and the team have built an impressive business in a short period of time, securing major contracts and creating high-quality employment opportunities in North Wales. Our investment will help the company continue that trajectory, supporting further growth, safeguarding jobs and strengthening its position as a key manufacturer in this sector.”
The loan for Locit came from the £500 million Wales Flexible Investment Fund that supports Welsh businesses with terms of up to 15 years. Loans, mezzanine finance, and equity investments are available from £25,000 to £10 million.
