Borehamwood-based digital display company, Esprit Digital has secured a £10m international contract, creating eight new local jobs.
The UK manufacturer of out-of-home digital display screen solutions has won a £10m contract with The Scentre Group – owner of Westfield shopping centres.
The deal – made possible with the support of a significant funding package from Lloyds Bank Commercial Banking – will see Esprit Digital manufacture, install and fully maintain a network of 1,380 LCD displays across the retail group’s 37 Australian sites.
The company’s high-end digital advertising displays are already installed in venues across Europe, including London Heathrow and Gatwick airports, the London Underground and Paris Metro.
Unique to Esprit Digital, the high spec screens incorporate the latest advertising technology, such as image flow and synchronisation.
Lloyds Bank, under the Export Working Capital Scheme, provided Esprit Digital with a £1.1m trade facility in case of delays in the supply chain triggering delays in stage payments from the customer.
Esprit Digital currently employs 15 staff and has existing operations in the UK and America. Following the contract win, Esprit plans to build an office in Australia to provide on-the-ground support, with an additional eight members of staff being taken on there.
Peter Livesey, founder and managing director at Esprit Digital, said: “When we started the business in 2003, we had big international ambitions for the firm.
“Now, 12 years later we are exporting to more than ten countries. Our new deal is the next step in our international expansion goals.
Andrew Mannering, relationship director at Lloyds Bank Commercial Banking, said: “Esprit Digital is a great example of an ambitious British business looking to introduce its product into new markets.
“Indeed, many firms in London and the Home Counties are already taking advantage of this, with more than a third currently selling their goods or services abroad.
“To underline our commitment to boosting international trade, we have a strategic partnership with UKTI and have pledged to grow our provision of trade finance to SMEs by 25%.