SYIF takes equity stake in expanding air services company.
Published: 23rd November 2004
£800,000 investment paves the way for development of helicopter fleet.
An £800,000 investment by the South Yorkshire Investment Fund in a successful air services company has paved the way for the purchase of a fleet of four additional helicopters required to fulfil a new multi-million pound contract.
The Fund has taken an equity stake in Total Air Management Services Ltd, (TAMS) an expanding company launched in 2001 by Managing Director John Tickner, and Training Director, Mike Crichton-Kane, both experienced South Yorkshire Police helicopter pilots, and Frances Tickner, a former Despatch Manager with South Yorkshire Ambulance Service.
The company leases aircraft and provides helicopter pilots along with engineering, technical and training services to a range of public bodies and utility companies, including South Yorkshire Police. It specialises in carrying out laser mapping work for major utilities using equipment mounted on helicopters.
The SYIF investment along with bank funding, has enabled Total Air Management Services to purchase its first fleet of wholly-owned helicopters. Four aircraft are required by TAMS for a recently secured multi-million pound order with Transco, a national gas pipeline company. The aircraft will be delivered from January 2005.
Currently based in Sheffield, the company is in the process of moving its Company and Operational Headquarters to Parkgate, Rotherham, and will employ a total of 31 people by the beginning of the New Year.
A spokesperson for TAMS. said, "The equity investment by SYIF has provided us with the deposit on the new helicopters that we are buying in order to fulfil a significant new contract that underpins our expansion.
"In addition to the financial commitment the Fund has also provided us with valuable support in developing business plans that involve providing a wide range of services and expertise to our clients. South Yorkshire Investment Fund has been very pro-active and supportive and enabled us to take another significant step forward."
Investment Manager, Paul Gower, said: "Total Air Management has come a long way in a short time. It is a dynamic company offering a high level of technical expertise in a specialist field.
"I’m delighted that we’ve been able to help them with advice and funding to support their continued development on the back of a multi-million pound contract which sets the scene for continued growth, success and employment."
- Invitation to Tender for Fund Management Contracts
- Move to Barnsley
- Jobs boost from investment fund
- Finance Yorkshire looks to a future of investment
- New finance venture to boost businesses
- Screenprint displays the signs of success
- Doncaster hospitality company looks to the future
- Printing company gets it Wright with SYIF
- More Business & Investment News...
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.
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).