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Sheffield company is a cut above thanks to SYIF

Published: 31st October 2006

Pictured from the left are Neil Jagger, of Edwin Jagger; Clive Downward, of SYIF; David Bennett, BLSY; and Alan Brock, company mentor.

A Sheffield manufacturing company is a cut above the rest, thanks to a £75,000 loan from the South Yorkshire Investment Fund (SYIF)

Edwin Jagger Ltd, based at Cavendish Works, Sheffield, designs and manufactures a variety of classic and contemporary high quality wet shaving accessories and currently exports 70 percent of sales worldwide. The company combines expert design, carefully selected materials and cutting edge manufacturing processes along with hand finished results to produce absolute product perfection.

The company, which was established in 1988 and has an international reputation for excellence, has used the investment from SYIF to purchase a second CNC lathe after receiving increased orders.

The company’s extensive range of shaving razors incorporating the latest razor blade systems, pure badger hair shaving brushes, straight razors, shaving sets, shaving creams and soaps meets the grooming needs of men today.

Neil Jagger, Managing Director at Edwin Jagger Ltd, said: "The loan has helped fund the purchase of a second CNC lathe to ensure production of an increased number of orders that we have received."

"We have also used the loan to assist us with marketing activities and to put in place new technology systems."

He added: "We were introduced to the SYIF by David Bennett from Business Link South Yorkshire and are also working with a mentor, Alan Brock, from APB Consulting Ltd, who prepared the business plan which secured the funding and is also providing us with his expert advice. Simon Quinn from HSBC has also helped us."

"I would recommend SYIF to any business who, like ours, is successful but needs a financial injection."

Investment Director of the Small Business Fund, Clive Downward, said: "When Edwin Jagger Ltd were looking for additional funding for new equipment we were only too happy to help."

"The company is well established and has an excellent reputation for providing quality shaving products and now the CNC lathe which was funded by the loan, is allowing the firm to increase production, which is great news."

SYIF provide loans and equity linked investments ranging from £15k to £2.5m to businesses already in, or prepared to relocate to, South Yorkshire. The Fund has already invested over £24 million into businesses in the county.

For more information on how SYIF can help businesses, please go to www.syif.com or call 01709 386 377.

Editor's Notes

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).