Sheffield Decorators Set for Colourful Future
Published: 15th March 2007
(left to right) South Yorkshire Investment Manager Jane Siddle with Paul Harrison and Nick Wain from Image Decorations.
A Sheffield company is hopeful of a colourful future with turnover set to rise 25 per cent by the end of the financial year.
Image Decorations Ltd, based on Burton Road, has enjoyed rapid growth since being established in 2000, making two management buy-outs and adding eight new members of staff since May last year.
The international specialist decorating contractors have worked with a number of clients in the retail, leisure and business industries, renovating sports centres, hotels and recreation facilities worldwide on military bases.
South Yorkshire Investment Fund (SYIF) has given their assistance to Image Decorations with a £75,000 investment. The funding went towards a £400,000 management buy-out, with the remaining money coming from Lloyds TSB and the companys directors.
Nick Wain, Co-Director at Image Decorations, said: This was an important step for the company. Turnover is set to increase significantly at the end of this financial year and weve added new members of staff.
The company has just completed a second successful take over with the purchase of Graham Walkland Decorators, retaining the management and workforce.
The deal brings together the resources and experience from both companies and further expands our client base and ensures existing and new customers receive a first class service.
Image Decorations were assisted in receiving the SYIF investment by Andrew Cribb from Smith Craven Financial Services in Sheffield.
Nick added: Image Decorations are now looking at expanding into the property market and using our expertise in this area.
Jane Siddle, Investment Manager at South Yorkshire Investment Fund, said: Image Decorations has grown from strength to strength and have enjoyed a successful period since our investment.
We are pleased to have played a role in their development and we wish them every success in the future.
South Yorkshire Investment Fund 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.
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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).