A REDDITCH company supplying minerals to some of the country’s leading businesses has invested £500,000 in a new Innovation Hub.

Lake Chemicals & Minerals is targeting major growth on the back of its busiest-ever year – despite Covid-19 – when it achieved turnover of £20 million.

The new premises is at 3 Moons Park, on the North Moons Moat industrial estate. The move has also seen Lake launch a recruitment drive for highly-skilled technicians, chemists and scientists to further its work across a wide range of industries.

The new site, a short distance from Lake’s manufacturing base in Padgets Lane, represents a £500,00 investment to create a Lake Innovation Hub with integrated R&D and hub office facilities with meeting rooms and social entertaining area for employees and customers.

Lake’s managing director Steven Cartlidge said: “Lake Chemicals & Minerals started renting offices in Redditch with two people in 2003 and our new home in 2021 is the Lake Innovation Hub, giving a home to 60 employees in a hybrid remote working/hub operation.

“Redditch has developed into a hub for entrepreneurial SMEs and Lake has found a good home in Moons Park. As an agile entrepreneur, Lake has created high quality speciality jobs within innovation and entrepreneurship at the heart of activities feeding a manufacturing unit also located in Redditch.

“Lake has a near 20-year commitment to Redditch and we hope to extend operations in line with the continuing success of the business.

“Success is only possible by collaborating with companies that want to make a difference and Lake’s partnership with John Truslove has been essential component of this successful move enabling continuing growth.”

Lake Chemical’s marketing and communications manager Emily Armstrong added: “The company started out sourcing minerals and elements for clients, providing support for the technical coatings industry but we started getting inquiries from across the spectrum, which has seen us expand into a wide range of industries.

“More recently we have expanded our capabilities to incorporate new product development, testing and manufacturing, which is why we needed to expand our laboratory operations.”

Lake has now expanded to five divisions covering food and drink, pharmaceutical, personal care, coatings and engineering.

In finding the new premises, the company was aided by commercial property agents John Truslove.