Genpower is a family-run, multi-award-winning business, founded in 2006 by Managing Director Roland Llewellin and his wife, Lisa Llewellin. They offer a range of power equipment from gasoline generators to garden machinery and construction equipment. Genpower is the sole importer of Hyundai Power Products for the UK & Ireland and more. In 2016 and 2019, they successfully raised over £350k. They have an excellent repayment history and are a top Crowd2Fund client.
Our mission is to become the number one supplier of high quality power equipment in the UK.
We have a strong and experienced Quality Control team that spans both our offices internationally, ensuring a smooth end-to-end quality management process. This includes everything from working with our approved factories at the point of manufacture to product quality, testing, and continuous improvement. Prior to dispatch, our expert team performs pre-delivery inspections (PDI) on our products. We also track the product throughout its life cycle and work to improve the quality and range of our products. Our customer service and high standards earned us a partnership with Hyundai only a year after we were founded. Since then we have received several commendations from institutions such as The Sunday Times and The Chamber of Commerce, both of which rewarded us for our rapid growth.
We have experienced rapid growth in recent years and are constantly evolving to meet changing market demands and the challenges that come with rapid growth. We currently employ over 120 people across our Pembroke Dock headquarters, 2PL warehouse in Newport, Warrington branch, Mauritius office, and China office. 2023-24 will be our biggest year, with significant growth expected, driven by acquisition and expansion of our existing brands, as well as the addition of new brands and territories. Our goal is to gain a significant market share over the next three years and to exceed £100 million in revenue by 2025. Our business model is based on increasing online sales via omnichannel product placement and distribution. After two successful raises in 2016 and 2019 with Crowd2Fund and flawless repayment history, we have returned. We are currently seeking funds for further expansion and stock.
The directors are providing a personal guarantee, this means that if the business fails, the directors become personally liable for the loan. The directors are homeowners, however, this does not ensure there are sufficient assets should the loan need to be recovered. There have been no CCJs against the business or directors. The Equifax score and grade, on which we base our assessment of risk, are based on the March 2022 filed accounts. We have performed our assessment on recent financial information, including November 2022 management accounts, which were not available to Equifax. The management accounts show that operating profit was £1,021,743 and net equity was £5,073,601. The bank statements demonstrate reasonable affordability and the accounts remain well in credit.
The business advised that although input costs are high, supply chain prices have been very volatile over the past few years. As the GBP is increasing in value at the moment, shipping container costs are the lowest they have been for 10 years. Furthermore, the business mitigates their GBP exchange rate risk by buying forward 50% of their requirement for 6 months. As the majority of lending to the business is at a fixed rate, they will not be immediately affected by interest rate increases. The directors do not expect to draw money from the business as all capital is vital for the growth of the business. Genpower Ltd advised that they are less likely to be impacted by inflationary pressures as they have been able to increase their prices to cover any increases in cost.
"Our mission is to become the number one supplier of high quality power equipment in the UK."