High-end hi-fi manufacturer Linn has secured £1 million of bank finance to invest in product innovation and expansion into new markets.
The company, whose top of the range models retail for more than £18,000, is about to launch a new wireless music system at its Harrods concession in London this October.
Its staff of 170 are constantly developing its products at the factory near Eaglesham, south of Glasgow. They have been making the legendary Sondek LP12 since the company was founded in 1973 and every product is hand-built, tested and packaged by one skilled technician who signs their name to it only once it meets Linn’s standards.
The family owned business, whose past customers have included the late David Bowie, said it expects to generate an extra £1.4 million this financial year.
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.”
Barclays has served Linn since January 2017 with a products and services including international currency management and payment solutions and guarantees.
Jamie Grant, head of region Scotland & Northern Ireland at Barclays, 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.”
