Batchglow Given Brighter Future After Investment
Published: 18th May 2007
Gary Euman Director at Batchglow, Chris Smart Director at Batchglow, Les Davies senior partner at Hains Watts and Grahame Lunt from South Yorkshire Investment Fund.
Gary Euman, Director at Batchglow, Les Davies senior partner at Hains Watts, Grahame Lunt from South Yorkshire Investment Fund and Chris Smart Director at Batchglow.
A specialist coating company has been given a fresh look, following investment from South Yorkshire Investment Fund (SYIF).
The £50,000 investment from SYIF has been used to provide additional working capital after Chris Smart completed a management buy-out of Batchglow Ltd and its sister company MDF Specialised Coatings Limited.
Both companies employ a total of more than 40 people, operating a 24 hours, five-days a week service from its base at the Todwick Road Industrial Estate, Dinnington, Rotherham.
Batchglow, which was established in 1981, are a powder coating specialists offering industrial paint finish to shop fittings and architectural metalwork.
The company then formed a separate business arm six years ago, MDF Specialised Coatings, who are the only sub-contracting MDF painters in the country.
Chris said: “MDF Specialised Coatings is a fairly unique business. It was established after seeing the decline of manufacturing in Sheffield. We felt the business could take advantage of the specialist skills to coat MDF, which seemed to be used everywhere.
“We have been able to gain work all over the country, including with high profile organisations such as Meadowhall, Marks and Spencers and more recently Terminal Five at Heathrow International Airport.”
Batchglow is now looking to re-invest in new equipment and to continue to develop its general sales over the coming 12 months.
Les Davies, Senior Partner, at Haines Watts, a UK business advisory and accountancy firm in Sheffield, supported Batchglow by introducing them to SYIF.
Grahame Lunt, Investment Manager for South Yorkshire Investment Fund, added: “We are pleased to assist Chris and his development of Batchglow and MDF Specialised Coatings.
“Both companies offer a specialist service using the expert skills of local people to benefit the whole of the country. I’m sure they will continue to grow and enjoy further success following our investment.”
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.
For more information on how South Yorkshire Investment Fund can help your business please visit www.syif.com or call 01709 386 377.
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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).