Loan helps conservatory company expand range: County Systems invests £200,000 in business.
Published: 9th March 2005
Sean Cronin of County Systems, Rotherham, pictured with Investment Manager Allan Wood.
A £65,000 loan from South Yorkshire Investment Fund has helped a Rotherham-based conservatory company buy new machinery to expand its range of uPVC products.
County Systems Limited, based at the Thornhill Industrial Estate, Hope Street, is investing around £200,000 to broaden its range of products from upvc conservatory frames to include windows and doors.
The company, which expects to increase its 16-strong workforce as a result of expanding its product range, has converted a building formerly used for storage at nearby Rail Mill Way into a production unit and has installed new fabrication equipment there.
Since its launch in 1996 County has focused on supplying the building trade with quality conservatory frames rather than selling to the public. Its products are designed for the prestige end of the market supplying customers from Newcastle in the north to London in the South East.
Sean Cronin, Sales and Marketing Director, said: "We will apply the same policy as we expand our product range to include windows and doors, using the best uPVC raw materials, fittings and glass from the UK and Europe. Diversification has required a major investment in new fabrication machinery and the loan from South Yorkshire Investment Fund has helped us to move forward with our expansion plans."
Allan Wood, investment manager, said: "County Systems has established itself as a leading supplier to the trade of high quality uPVC conservatory frames. The company is now aiming for even greater success with a broader range of quality products and we were keen to support it in its ambitions."
South Yorkshire Investment Fund offers a range of loan and equity linked investments, ranging from £15,000 to £2.5m, to help small and medium businesses bridge the funding gap that often prevents businesses of realising their true potential.
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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).