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Fund backs Atomising Systems with £100,000 deal

Published: 25th November 2002

Large Picture

(from left) Chairman and technical director of Atomising Systems Ltd, John Dunkley, shows Chief Executive of South Yorkshire Investment Fund, Tony Goulbourn, and Investment Manager Allan Wood around the plant in Sheffield.

Large Picture

(from right) Chairman and technical director of Atomising Systems Ltd, John Dunkley, shows chief executive of South Yorkshire Investment Fund, Tony Goulbourn, and investment manager Allan Wood around the plant in Sheffield.

South Yorkshire Investment Fund has backed another company at the leading edge of technology - in a £100,000 deal.

Atomising Systems Ltd of Sheffield is the latest business to secure funding for future development and growth from the Fund.

Established in 1992 the company, based in Vulcan Road, Meadowhall, specialises in the technology of metal powder production by atomisation

Atomised metals have a wide range of applications, such as in the production of automobile components or in electronic grade solder pastes. Atomising is also used in the refining of metals, where a fine powder is required for chemical processes.

The founders have over 30 years experience of the technology and have designed and delivered 120 plants in 33 countries. Their wide experience, supported by continuous investment in research and development, has made ASL the leading supplier of atomising technology and equipment to the global metal powder industry.

Employing 10 people their clients include companies from Europe, North America, India, China, Japan, South Africa, and Australia

Chairman and Technical Director, John Dunkley, said: "This extra funding will enable us to fund new products and maintain our position in the market place. We were delighted to work with the Fund and with our advisor Martin Weatherall from Hawsons Accountants."

South Yorkshire Investment Fund provided the £100,000 secured loan and have taken a 15 per cent equity share in the business.

Tony Goulbourn, Chief Executive of South Yorkshire Investment Fund Ltd,
said: "It is always good to support businesses at the forefront of their industry. Atomising Systems is the kind of forward thinking company, which will bring further growth and employment to the area."

The Fund provides development and risk capital ranging from £15,000 to £500,000 to businesses in, or prepared to relocate to, South Yorkshire.

It offers two key products, one of which is an unsecured loan, ranging from £15k to £50k. There is no need to give a personal guarantee and effective interest rates are from as little as 3%.

The second product is an equity-linked package, ranging from £50k to £500k where South Yorkshire Investment Fund takes a minority stake in the business.

The equity-linked package, with its competitive fees, is designed for new or existing businesses with potential for rapid expansion. Investments can be made as a mix of ordinary and preference shares or subordinated loan stock.

A unique feature of the Fund is its Mentorbank project, which provides subsidised mentoring support to help management teams grow the business more profitable.

The Fund’s products are designed to support businesses through critical stages of growth. From start through to major expansion, the fund will provide financial support. If a business is looking to start up, invest in new technology or equipment, enter new markets or locate into South Yorkshire it should call South Yorkshire Investment Fund first.

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).