Driving ahead thanks to £50,000 investment
Published: 21st December 2005
Pictured from the left is Allan Findlow, Sales Director at Drive Management Services (DMS); Andrew Chaffer, Investment Manager for SYIF and marketing expert and mentor for DMS, Graeme Miller.
A Sheffield based company is hoping to be the ‘driving force’ behind significant performance improvements at businesses throughout Europe.
Drive Management Services Ltd specialises in helping firms get the best possible results from their production lines by helping them to manage their critical plant assets.
Now, thanks to a £50,000 loan from South Yorkshire Investment Fund, they hope to steal a march on their rivals by immediately investing cash into further development of their unique range of Total Asset Management products and services.
Highly-specialised monitoring equipment and a state-of-the-art live internet database means the company, based at Sheffield Technology Park in the Don Valley, is able to alert firms the moment any equipment drops below maximum performance levels.
Drive Management Services Sales Director Allan Findlow explained: "We already have some of the best monitoring equipment available but this cash will enable us to develop that even further.
"Without the SYIF loan we would have had to hold back until we could raise the money ourselves but now we can press ahead with our plans."
"It is great news for us and it is great news for our customers."
Formed less than two years ago, Drive Management Services has some prestigious clients. They include Premier Foods, the company behind canning almost all the tinned food sold in Britain’s supermarkets, and Knauf, one of the world’s largest plasterboard manufacturers.
And SYIF are helping the company reach new customers thanks to the Fund’s mentoring scheme which sees marketing expert Graeme Miller working closely with Drive Management Services for the foreseeable future.
Mr Findlow added: "We are always looking to reach new markets and with someone like Graeme on board we will be even better equipped to do this."
Investment Manager Andrew Chaffer said he had been impressed by the enthusiastic and forward-thinking attitude adopted by such a relatively new company and he predicted a big future for Drive Management Services.
Tony Goulbourn, Chief Executive of South Yorkshire Investment Fund Ltd., added: "This is just the sort of company we are delighted to be involved with. They are helping to put this region right at the front of new technology and we hope this loan will help them on to new and even better things."
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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).