Companies bathe in success, thanks to investments
Published: 3rd January 2007
Karl Hodson of South Yorkshire Investment Fund; Dean Crookes of Trade Direct; Nigel Harrison of Kingkraft; Tariq Javaid of Yorkshire Forward and Jane Pitchfork of Business Link South Yorkshire.
Two Sheffield companies are celebrating having received investments from South Yorkshire Investment Fund and Yorkshire Forward.
Kingkraft Limited and Trade Direct have benefited from loans from SYIF.
They have also received Selective Finance for Investment (SFI) grants from Yorkshire Forward, with Kingkraft receiving £50,000 and Trade Direct being awarded £35,000.
Kingkraft have been manufacturing specialist bathing equipment since 1984. In that time the company has become a leading name in assisted bathing through established brands such as Easibath and Contour. Kingkraft offer a range of products to assist individuals of different levels of ability to enjoy their bathing.
The company’s products are used in thousands of homes, hospitals and residential environments to provide invaluable assistance to help people meet their bathing requirements. In addition to the range of products for assisted bathing, Kingkraft also offer a number of products for the more mobile individual, to assist them in continuing to live independently.
Trade Direct, based at Deep Lane in Sheffield, are a family business with 20 years experience in the motorcycle industry. The business currently manufactures stealth brake discs in their Sheffield engineering works incorporating the complete process from raw materials to finished boxed and shipped orders. This enables them to control all aspects of supply and delivery, thus ensuring complete customer satisfaction.
Kingkraft Managing Director, Nigel Harrison, said: “The loan from SYIF and the investment from Yorkshire Forward came at just the right time for us. We were developing a new range of products and needed to expand our current premises. An opportunity arose to buy the premises adjacent to our current site at Dore House Industrial Estate. The loan from SYIF and the investment from Yorkshire Forward enabled us to purchase the extra work space and furnish it with new equipment, which has led to increased production.
"Our business has benefited greatly from this assistance as we are now able to offer our customers a wide product choice due to our increased production space."
Kingkraft and Trade Direct were introduced to the SYIF by Ian Gerard, formerly of Business Link South Yorkshire
Dean Crookes, Partner at Trade Direct, said: "With our SYIF loan and investment from Yorkshire Forward we purchased a LVD Laser cutter which has allowed us to establish a laser cutting service. This has meant that we no longer have to outsource any products or services and every single component of the stealth brake discs we produce are now made in our Sheffield workshop, something which we now pride ourselves on."
"Having the new laser has also created two new jobs, which has allowed us to expand as a company and increase productivity, which is great news for us and our clients. "
"South Yorkshire Investment Fund and Yorkshire Forward have been fantastic and we have received help from them every step of the way."
SYIF Investment Manager, Karl Hodson, said: "I am delighted that both companies have benefited greatly from their SYIF loans. Kingkraft and Trade Direct are forward thinking businesses and are manufacturing great products and we are pleased to share in their achievements."
Alex Mcwhirter, head of enterprise at Yorkshire Forward, said: "Fundamentally, the role of SFI is to invest in companies in Yorkshire and Humber which will create an improvement in the economy, raise productivity and improve employment skills. Kingcraft and Trade Direct are excellent examples of businesses in our region that have used the investments to improve their competitiveness and I wish them every success for the future."
SYIF can provide 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.
For more information about South Yorkshire Investment Fund, please visit www.syif.com or 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).