Barclays provides £1m of funding to hi-fi manufacturer Linn
Barclays has funded Glasgow-based premium hi-fi manufacturer Linn with £1 million.
The funding will be used to bolster product innovation and expansion into new markets. It will support the development of Linn’s growing range of high-end audio products, with a new wireless music system set to launch exclusively in the Harrods flagship concession this October.
Linn is a family-owned, independent business which employs 170 members of staff. The company expects to generate a further £1.4m this financial year, with ongoing growth next year.
The Barclays team, led by relationship director Helen Hutchison, has serviced Linn’s requirements since January 2017, supporting the business with a range of products and services including international currency management and payment solutions and guarantees.
Linn managing director, Gilad Tiefenbrun, said: “Barclays has been providing Linn with its excellent banking services since early 2017 and, with the additional support of this funding, we also benefit from their commitment to the future of high value Scottish manufacturing. The funding has been a welcome boost to our latest product development project and we look forward to its successful launch in October and our continuing good relationship with Barclays.”
Head of region Scotland & Northern Ireland at Barclays, Jamie Grant, said: “Linn is one of Scotland’s technology success stories and our funding assists the company’s ability to invest in new product development. This Glasgow-based business has a rich heritage and an exciting future and is exactly the type of manufacturing business we want to work with to support Scotland’s economic growth.”