£150,000 loan to help Proco Print develop digital direct marketing operation
Published: 28th April 2005
Left to Right: Simon Tomlinson, Proco Print Finance Director, Allan Wood, Investment Manager who led the deal and Graham Congreve, Proco Print Sales Director, at the company’s new premises.
An expanding Sheffield-based lithographic and digital printing company is using a £150,000 loan from South Yorkshire Investment Fund to develop a new personalised digital direct marketing operation.
Proco Print Ltd, trading as The Production Company, aim to be one of the first companies in the market to offer personalised full colour direct marketing materials tailored to individual recipients using digital technology.
The company is a supplier of direct mail services to a number of major companies and its continued expansion is expected to create around 20 new jobs in the next few years.
Investment in new direct marketing technology is part of a £2m development programme at the 13 year-old company and its direct marketing subsidiary, Production Direct, which has 85 employees. The firm is in the process of relocating from the Wicker to a new location near the Parkway.
Finance Director, Simon Tomlinson, said: "The move underlines our commitment to Sheffield. It will enable us to operate from a single site and give us economies of scale and improved efficiency. We are making a significant investment in our future and SYIF has recognised our potential by agreeing the loan to help finance our development. We are confident that we can be a market-leader in the digital direct marketing field and repay their faith in us."
Investment Manager, Allan Wood, said: "Proco Print has built up an excellent track record. It is a forward looking business with the confidence to invest in its future and we are delighted to advance a loan to help them achieve their objectives."
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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).