South Yorkshire Institution Set for Another Century of Signalling Success
Published: 30th January 2008
Chris Bramall, Clayton & Co Managing Director, Alan Scott, Business Link South Yorkshire, Karl Hodson, SYIF, and Ian Benn, Clayton Group Managing Director.
A well-established mechanical engineering firm in Penistone has been given the green light to expand operations after a £75,000 loan from South Yorkshire Investment Fund (SYIF).
The landscape at Clayton & Co (Penistone) Limited has changed markedly since the company’s inception in 1895 and following the SYIF loan plans are underway to develop the current site.
The company, famed for manufacturing railway safety signalling equipment for more than a century, has grown and diversified to provide a range of services. These include electrical and mechanical engineering, design and manufacture of control panels and motor control centres (MCCs), cabling and associated services.
A new £350,000 purpose built factory is scheduled for completion early in 2008 at the current site at Westhorpe Works on Halifax Road, Penistone.
Ian Benn, Managing Director of the Clayton Group, said: "We considered all our options and decided developing the current site would make the most sense.
"The new on-site factory will allow the business to not only develop in operational terms but will give us scope to employ more workers and provide them with much improved facilities. Considering our staff was the primary objective for us as this is where the company derives its strength.
"We currently employ 35 members of staff and it is important that they are able to work in the best possible conditions. The loan, advice and support from South Yorkshire Investment Fund has gone a long way to making this possible and we’re glad our business can prosper with the help of local people."
Clayton & Co (Penistone) Limited is the parent company which owns two subsidiary companies, Clayton M&E Services Ltd and Clayton Project Engineering Ltd, who perform the electrical and mechanical design and project engineering work.
Clayton & Co was introduced to SYIF through Alan Scott at Business Link South Yorkshire, while HSBC will also provide a commercial mortgage for the development.
Karl Hodson, Investment Director for South Yorkshire Investment Fund, added: "We are pleased to assist a company so well recognised as a part of South Yorkshire’s rich industrial heritage. Clayton & Co has provided a major service to this country for over a century and continues to do so today.
"The SYIF funding means the company will continue to operate from the existing site which is good for both Clayton & Co and for Penistone."
SYIF can provide 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.
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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).