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Case Study: TASC

Published: June 2009

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Debbie Sorby, portfolio manager at SYIT with Steve Copley, managing director of TASC

The Company

TASC Group Construction Ltd is based at the Dore Industrial Estate in Handsworth, Sheffield.

The company was established in 1998 as a diamond drilling company but has since expanded across the construction market and now provides fire protection solutions.

TASC, which has 66 employees, have been involved with a number of high profile projects across the country, such as the £200m St Stephen’s retail development in Hull, where they provided diamond drilling and thermal insulation services.

The company had received an investment from South Yorkshire Investment Fund in 2006 to assist them with a management buy out.

 The Challenge

Despite the current economic downturn, the company needed to move into larger premises so they could expand their service range into different areas of the market.

The Solution

TASC Group Construction received a £300,000 Equity Linked Investment from South Yorkshire Investment Fund.

The money has helped the company to fund the move to a larger site within the Dore Industrial Estate.

As a result of this, TASC has been able to continue the development of its services and begin expanding into different areas within the construction market – ensuring the company remains competitive and a key player in the national construction sector.

Future Expectations

The company’s move to bigger premises has given it longevity and capability to expand both its service range and workforce.

The construction industry has been hit hard by the recession, but thanks to TASC Group Construction’s forward thinking, relocation and continual service development, the company has ensured that it has the capacity to grow and reach new market areas. This will ultimately support their aims to become national leaders within the industry.

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Editor's Notes

About South Yorkshire Investment Fund

South Yorkshire Investment Fund  provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.

Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.

South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.

Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
http://www.finance-yorkshire.com

For further details please contact Suzanne Tinkler,  on 0845 649 0000.

South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).