Packaging company is set for the future
Published: 23rd March 2006
Pictured with some of the products Prempac has processed and packed are (from the left) Ian Plumb, Senior Commercial Manager of HSBC; Sean Johnson, Managing Director of Prempac; and Karl Hodson, Investment Manager at SYIF.
A Sheffield- based finishing and logistics company is enhancing its production practices, courtesy of a £30,000 loan from South Yorkshire Investment Fund.
Ecclesfield-based Prempac Ltd offers a range of services, from contract packing, print management, mail sort, shrink wrapping, to fulfilment and distribution.
Thirty-seven-year-old Sean Johnson, Managing Director of Prempac, said: "This loan was crucial for us. We needed it to invest in the development of the company. The plan is to move, what is essentially a very manual operation, into the 21st Century."
Key areas for investment include new machinery for print finishing and the appointment of a Business Development Manager, to help the company achieve its strategy for growth.
Sean said: "We need to address short and long term goals. As well as immediate improvement of production processes, our staff will need to increase productivity by 30% by the end of the year. We currently employ 89 people."
Investment Manager Karl Hodson said; "I worked with HSBC’s Ian Plumb to put this deal together, I hope it is the first of many where we work closely with the banks.
"Prempac’s range of services makes them a very interesting company to deal with. Sean has evidently thought out the direction he wants the company to take, and his business plan sets out these aims with great clarity."
"SYIF provide loans and equity linked investments ranging from £15k to £2.5m to businesses already in, or prepared to locate to, South Yorkshire", added Karl. "The Fund has already invested over £17 million in 146 businesses – we are constantly seeking to help dynamic, business-minded people like Sean."
For more information on how SYIF can help you, ring 01709 386377.
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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).