Home > News & Events > August 2002 > News Article

Fund continues to back South Yorkshire Business - from City Business Magazine

Published: 29th August 2002

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Bright future: - left to right - Allan Wood, investment manager working on behalf of the Fund, the Fund board member Brian Leach and John McCreery who led the MBO of Alambar Safety Products.

As South Yorkshire seeks to transform its economic fortunes the South Yorkshire Investment Fund is making a genuine contribution to the region's future growth.

The Fund is keen to back growing businesses in South Yorkshire and offers unsecured loans from £15,000 to £50,000 with effective interest rates from just three per cent. It also offers a series of loan and equity packages up to £500,000 structured to support businesses through critical stages of growth.

Tony Goulbourn, Chief Executive of South Yorkshire Investment Fund Ltd, said: "We are very sympathetic to the needs of South Yorkshire's business community and are well placed to understand and invest in growing businesses.

"We are committed to developing the South Yorkshire economy and helping companies grow through shrewd commercial lending. We are keen to discuss investment opportunities with entrepreneurs in the region."

In August the Fund closed one of its biggest investments when it backed the management buyout of Sheffield-based consulting engineers Pearce Buckle.

Paul Bestall, Kevin Hirst and Richard Cherrill who have several years' experience in the construction industry have bought the Sheffield-based business from the founder with plans to expand it further and consolidate on its recent successes.

The company, which employs 30 staff, currently boasts a turnover of £1.5 million. It specialises in providing consulting engineering services to a range of building work projects, with particular strengths in healthcare, education, custodial services and general construction. Clients include Asda, Doncaster Metropolitan Council, HSBC, Rolls-Royce, Toyota and the Metropolitan Police.

Elsewhere, the Fund backed the £140,000 management buy-in of Doncaster-based Alambar Safety Products by John McCreery.

Alambar manufacturers bespoke high-visibility safety clothing. Mr McCreery said: "We are very much a hands-on team and believe we can make the business work much harder and generate further profitable growth. The market is growing and Alambar are well-placed to take advantage of any new opportunities with the backing of South Yorkshire Investment Fund.

Other significant investments by the Fund include Transtar, Sheffield;Aquaform, Rotherham; and Labfacility, Sheffield;

Commenting on the South Yorkshire Investment Fund's future development Mr Goulbourn said: "We are very much committed to working in partnership with existing funders including other Objective One initiatives. The more sources of cash available to South Yorkshire companies the better for the area's economy and job creation.

"We are delighted with the quality of the business proposals being presented to us and the team get a real buzz from helping entrepreneurs realise their ambitions, helping to create prosperity for the region."

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).