Fund gives Doncaster based firm a lift
Published: 9th September 2002
Revolutionary: Peter Burton and Allan Wood, from the South Yorkshire Investment Fund take a close look at TLC Handling's Helilift. a Universal helicopter ground handling unit with operati
From left, Tony Hancock and Karen Papa of TLC Handling, Allan Wood, and Peter Burton, for South Yorkshire Investment Fund.
South Yorkshire Investment Fund has helped lift the operations of TLC Handling in Doncaster who have just secured a contract in excess of £2m.
The Fund provided a £50,000 unsecured loan and helped them secure additional funding of £100,000 from Barclays Bank.
Based at Finningley Airport in Doncaster, TLC Handling has been sub-contracted to supply in excess of £2m of equipment to the Ministry of Defence.
Employing eight people, the company was formed in February 1997 and manufactures state-of-the-art-lifting equipment for both military and civilian helicopters.
Managing Director Tony Hancock took three years to design the universal helicopter ground-handling unit, known as the TLC Helilift.
Each machine takes one week to complete and the latest contract, for 35 machines, is expected to last until December 2003. The company also supplies police air support units and air ambulance units.
Karen Papa, Operations Director of TLC Handling, said: "We are thrilled to get this very important contract. It will enable us to take on four more employees over the next few years. What makes our machine unique is that it takes just one person to operate and to move a helicopter.
"We are very thankful to the South Yorkshire Investment Fund who have been very helpful throughout our application."
TLC Handling was introduced to The Fund through Business Link South Yorkshire business advisor Alan Scott, and advised by accountancy firm Smith Craven.
Tony Goulbourn, Chief Executive of South Yorkshire Investment Fund Ltd, said: "TLC Handling is just the sort of company we are seeking to help - it operates in a fast growing marketplace and has already displayed great ambitions for its future. They deserve recognition for their hard work in securing this major supply contract. We are keen to talk to other companies with ambitious management in the South Yorkshire region."
The Fund provides development and risk capital ranging from £15,000 to £500,000 to businesses in, or prepared to relocate to, South Yorkshire. A unique feature of the Fund is its Mentorbank project, which provides subsidised mentoring support to help management teams grow the business more profitable.
The Fund offers a series of loan and equity packages structured to support businesses through critical stages of growth. From start through to major expansion, the fund will provide financial support. If a business is looking to start up, invest in new technology or equipment, enter new markets or locate into South Yorkshire it should call South Yorkshire Investment Fund first.
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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).