Naissance, the ethically-sourced vegan healthy living company, is expanding after a seven-figure loan from the Development Bank of Wales.
An existing customer of the Development Bank, Naissance has been working with the portfolio team on expansion opportunities within Wales.
The company, who employs over 100 people at their manufacturing and warehouse space in Neath, has purchased a new corporate headquarters in Powys after successfully expanding into the European and US markets. Marketing, strategy and other management functions will be based at their new corporate offices at Glansevern Hall in Montgomeryshire. The availability of capital through the Development Bank secured Wales as the corporate home of Naissance.
Customers will be able to visit Glansevern to experience Naissance and learn about the sustainable sourcing and manufacturing process of products and ingredients. With sustainability being a priority for Naissance, the new HQ will see goods grown on-site used in their café and the creation of products, as well as establishing sustainable energy sources.
Founded in 2005, the company creates cruelty-free and fair trade essential oils, carrier oils, soaps, salts and clays, as well as massage products. Underpinning their do-good, feel-good values, Naissance uses only natural ingredients and concentrate on sourcing responsibly with Fairtrade and other cooperatives across the globe.
Managing Director and founder of Naissance Jem Skelding said:
“Plants and people are at the heart of everything we do. This fantastic location will not only be a source of some of our natural ingredients but also a place for you to get hands-on and experience what makes Naissance different.”
Senior Portfolio Executive Dave Perez worked with Jem and the Naissance team on the deal on behalf of the Development Bank of Wales. He said:
“This is a great next step for Naissance, who has successfully opened operations in New York and Berlin in recent years. Their new headquarters allows them to put their sustainable values into practice with a range of positive environmental policies, from biofuel heating to growing some of their source materials used in their products onsite – reducing their carbon footprint. We’re delighted to be able to work with Jem and the team to further grow this great Welsh business and look forward to seeing the next stage of their expansion.”
Funding for the deal came from the Wales Flexible Investment Fund. The fund was recently expanded by £270 million by Welsh Government, proving an investment horizon of 10 years for the Development Bank and funding confidence for Welsh SME’s until 2030. Loans and equity investments between £25,000 and £10 million, including 15 year loan terms, are available to both SMEs and non-SMEs through the Wales Flexible Investment Fund.