Francis Kirk Group is working with The Alipour Company in Tehran to capitalise on opportunities in the automotive sector and new markets across the Middle East.
The deal will play a key role in the future growth of the fifth-generation business and is expected to increase turnover by the end of 2017 from £4.75m to £7m.
Tom Kirk, managing director of Francis Kirk Group, said: “The Middle East offers us huge potential – in terms of size, scope, wealth, workforce capability and the desire to work with the West.
“There is also a real kudos that they are buying quality products from a British company and they are very keen to invest in the UK to help promote and develop their own country.”
Francis Kirk Group’s move into the Middle East market follows the highly successful European expansion of Philidas.
The company acquired the brand and relaunched it in 2013 and it has since also performed very well in markets in the US, the Far East and India.
In partnership with The Alipour Company, Francis Kirk Group is now looking to build on the success of Philidas in the Middle East.
Kirk added: “Export has always been key to our business. Only five years ago - before changes to suppliers and their distribution policies resulted in a refocus for us - export accounted for 40% of our turnover. Then it dipped.
“We’ve concentrated on redeveloping exports again and are delighted with the progress we’ve made.
“Today, exports account for 20% of our turnover and we are committed to further increasing it to 50% over the next five years.”
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